Jack Hammer Company completed the following transactions. The annual accounting period ends December 31. 15 a Apr.Received $585,000 from Commerce Bank after signing a 12-month, 5 30 percent, promissory note. JunePurchased merchandise on account at a cost of $74,000. (Assume a 6 perpetual inventory system.) Paid for the June 6 purchase. Aug.Signed a contract to provide security service to a small apartment 31 complex and collected six months' fees in advance amounting to $23,400. (Use an account called Unearned Revenue.) Dec.Determined salary and wages of $39,000 were earned but not yet 31 paid as of December 31 (ignore payroll taxes). Adjusted the accounts at year-end, relating to interest. Dec. Ad Adjusted the accounts at year-end, relating to security service. Required: 1&2.Complete the required journal entries for each of the above transactions. (Do not round Intermediate calculations. 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 5 6 7 Record the borrowing of $585,000. Note: Enter debits before credits. General Journal Debit Credit Date 4/30/ Record entry Clear entry View general journal 3. Show how all of the liabilities arising from these items are reported on the balance sheet at December 31. (Do not round intermediate calculations.) JACK HAMMER COMPANY Balance Sheet (partial) At December 31 $