Camden Biotechnology began operations in September 2018. The following selected transactions relate to liabilities of the company for September 2018 through March 2019. Camden's fiscal year ends on December 31. Its financial statements are issued in Aprit 2018 a On September 5, opened checking accounts at Second Commercial Bank and negotinted a short-term line of credit of up to $15,000 000 at the bank's prime rate 10 5% at the ime The company will pay no commitment ees b. On October 1, borrowed $12 miltion cash from Second Commercial Bank under the line of credit and issued a five-month promissory d to issue 10-year bonds in February to repay note. Interest at the prime rate o the note c. Received $2600 of refundable deposits in December for reusable containers used to transport and store chemical-based products For the September-December period, sales on account totaled $4.100,000 The state sales tax rate is 3% and the d local sales tax rate is 3% (This is a summary journal entry for the many individual sales transactions for the period) e Recorded 2019 t In February, issued $10 million of 10-year bonds at face value and paid the bank loan on the March 1 due date g Half of the storage containers covered by refundable deposits were returned in March. The remaining cont the adjusting entry tor accrued interest be returned during the next six months. Required: 1 Prepare the appropriate journal entries for 2018 and 2019 transactions 2. Prepare the current and long-term liability sections of the December 31, 2018, balance st were $252,000