Business Sim Corp (BSC) issued 1,500 common shares to Kelly in exchange for $22,000. BSC borrowed $43,000 from the bank, promising to repay it in two years. BSC paid $48,000 for computer equipment with check number 101 and signed a note for $7,000 due in six months. BSC received $1,100 of supplies purchased on account. BSC's loan contains a clause ("covenant") that requires BSC to maintain a ratio of current assets to current liabilities of at least 21. 2-a. Prepare journal entries for the transactions described. 2-b. Prepare T-accounts. Assume all beginning balances are zero. Complete this question by entering your answers in the tabs below. Reg 2A Reg 2B Prepare journal entries for the transactions described. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 Business Sim Corp. (BSC) issued 1,500 common shares to Kelly in exchange for $22,000. Record the transaction. View transaction list Journal entry worksheet BSC borrowed $43,000 from the bank, promising to repay it in two years. Record the transaction. Note: Enter debits before credits. Transaction General Journal Debit Credit 2 Journal entry worksheet 1 2 3 4 BSC paid $48,000 for computer equipment with check number 101 and signed a note for $7,000 due in six months. Record the transaction. Note: Enter debits before credits. Transaction General Journal Debit Credit 3 Record entry Clear entry View general journal Journal entry worksheet 1 2 3 BSC received $1,100 of supplies purchased on account. Record the transaction. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Reg 2A Reg 2B Prepare T-accounts. Assume all beginning balances are zero. Cash Supplies Beg. Bal Beg. Bal. End Bal End. Bal. Equipment Accounts Payable Beg. Bal Beg. Bal End. Bal End. Bal Notes Payable (long-term) Notes Payable (short-term) Beg Bal. Beg. Bal Required information End, Bal End. Bal. Equipment Accounts Payable Beg. Bal Beg. Bal. End. Bal End. Bal. Notes Payable (long-term) Notes Payable (short-term) Beg. Bal. Beg. Bal. End. Bal End. Bal Common Stock Beg. Bal End. Bal