Record the following transactions for Fresh Water Inc (FWI). The company's year- end is December 31, 2018. Record any necessary transactional AND adjusting journal entries (as required given the circumstances) for the current fiscal year. If no entry is required, state NO ENTRY REQUIRED. Marks will not be awarded if an entry field is left blank. Show all calculations! a) On September 1, 2018, FWI paid $12,000 for liability insurance for 12 months. The insurance coverage begins on December 1, 2018. b) On June 1st 2018, FWI borrowed $100,000 from LaBank at an interest rate of 6%. Interest and principal will be repaid on June 1st, 2019. c) On December 2, 2018 FWI purchased a truckload of merchandise from a wholesaler. The merchandise costs $30,000, the terms were 2/10, n/30, and it was shipped FOB shipping point. Transportation costs of $700 were paid on December 3. FWI paid the invoice on December 11, 2018