Rose Inc. entered into the following transactions during September 2022: September 1: Borrowed $307,000 from Regal Lane Bank by signing a note payable. September 15: Performed services for customers on account, $39,700, and for cash, $15,000. September 17: Rose Inc. paid $65,000 to its hourly employees for their weekly wages. September 19: Rose Inc. received a bill from Petal Inc. for $12,000 for repairs made to Rose Inc's flower bed. Rose Inc. plans to pay the bill in early October. September 20: Rose Inc. paid $2,300 for utilities used during September. September 21: Purchased land for $100,000 by paying $20,000 cash and obtaining a loan for the balance. Required: a) Prepare the journal entries for the above transactions. (14 marks) b) What accounting principle did you apply in recording the September 17 transaction? (2 marks)