Chapter 2 Homework 3 Saved 16.66 points Skipped eBook Hint Exercise 2-16 (Algo) External transactions and adjusting entries [LO2-3, 2-6] The following transactions occurred during 2021 for the Beehive Honey Corporation: Feb. 1 Borrowed $17,000 from a bank and signed a note. Principal and interest at 12% will be paid on January 31, 2022. Apr. 1 Paid $4,600 to an insurance company for a two-year fire insurance policy. July 17 Purchased supplies costing $3,300 on account. The company records supplies purchased in an asset account. At the year-end on December 31, 2021, supplies costing $1,500 remained on hand. Nov. 1 A customer borrowed $7,500 and signed a note requiring the customer to pay principal and 10% interest on April 30, 2022. Required: 1. Record each transaction in general journal form 2. Prepare any necessary adjusting entries at the year-end on December 31, 2021. No adjusting entries were recorded during the year for any item Complete this question by entering your answers in the tabs below. Ask Print References Required 1 Required 21 Record each transaction in general journal form. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list A Me Graw Journal entry worksheet 1 2 3 4 Borrowed $17,000 from a bank and signed a note. Principal and interest at 12% will be paid on January 31, 2022. Note: Enter debts before credits Date Feb 01, 2021 General Journal Debit Credit