Required information [The following information applies to the questions displayed below.] Business Sim Corporation (BSC) entered into the following four transactions: (a) Issued 1,000 common shares to Kelly in exchange for $12,000. (b) Borrowed $30,000 from the bank, promising to repay it in two years. (c) Bought computer equipment by signing check number 101 in the amount of $35,000 and signing a promissory note for $5,000 due in six. months. This loan contains a clause ("covenant") that requires Business Sim Corporation (BSC) to maintain a ratio of. current assets to current liabilities of at least 1.3. (d) Recelved $900 of supplies and promised to pay for them in 30 days. 2-a. Prepare journal entries for the transactions described. 2-b. Prepare T-accounts. Assume all beginning balances are zero. Journal entry worksheet Record the issue of 1,000 common shares to Kelly in exchange for $12,000. Note: Enter debits before credits. Journal entry worksheet Record the $30,000 borrowed from the bank, promising to repay it in two years. Note: Enter debits before credits. Journal entry worksheet 4 BSC bought computer equipment by signing check number 101 in the amount of $35,000 and signing a promissory note for $5,000 due in six months. Record the transaction. Note: Enter debits before credits. Journal entry worksheet BSC received $900 of supplies and promised to pay for them in 30 days. Record the transaction. Note: Enter debits before credits. \begin{tabular}{|l|l|l|l|} \hline \multicolumn{2}{|c|}{ Deblt } & \multicolumn{2}{|c|}{ Credit } \\ \hline Beginning Balance & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline Ending Balance & & & \\ \hline \end{tabular}