Make journal entries for the following transactions: 

a) On February 1, the firm borrowed $10,000 from a bank at a 12% annual interest rate. The loan plus interest is due in twelve months 

b) On March 1, the firm bought $15,000 of inventory on account 

c) On April 4, the firm sold all inventory purchased in step (b) for $19,000 cash 

d) On June 30, the firm made an adjusting entry for thr transaction in part (a) and closed its inclme statement accounts to prepare mid-year financial statements. Assume that no transactions other than listed above took place between January 1 and June 30, 2018