QUESTION 1 (a) [4 MARICS) On May 1, 2020 Dunlin Development Company horrows $300,000 from Merchants and Marine Bank by signing an 8-month, 8t note. REQUIRED 1) Prepare the entry on May 1. [1 Mark) 2) Prepare the adjusting entry on May 31. [1 Mark] 3) Prepare the entry at maturity (lanuary 1, 2021), assuming monthly adjusting entries have been made through December 31, 2020 [2 Marks) i. BIR T - !!! III % 2cer A SP RE nciples of Accounting || QUESTION 12 MARS Ung Colours does not segregate sales and sales assister totalter September 30, 2019 is 29,10, which includes a sales tax REQUIRED: Prepare the entry to record the sales transactions and related taxes. 1 B I F T! % acer . R 55 7 Claire Communications publishes a monthly women magazine, Future Ladies Subscriptions to the magazine cost $300 per year. During December 2020, Claire sells 1,800 subscriptions beginning with the January issue. tion REQUIRED: Prepare the adjusting entry at March 31, 2021, to record sales revenue recognized in the first quarter of 2021