The following information is available about the entitys business transactions in May 2019.

May	1	Borrowed $300,000 from a bank.
	2	Purchased inventory on credit from a supplier A/K, n/20, $5,000.
	4	Paid insurance for the next 12 months $6,000.
	8	Paid the supplier A/K the full amount for inventory purchased on 2 May.
	9	Owner withdrew $2,000 for personal use.

Required:

Prepare general journal entries to record the transactions. Ignore GST. (5 marks)