The following transactions occurred during 2018 for the Beehive Honey Corporation:

1.Feb. 1 Borrowed $18,000 from a bank and signed a note. Principal and interest at 10% will be paid on January 31, 2019.

2.Apr. 1 Paid $4,800 to an insurance company for a two-year fire insurance policy.

3.July 17 Purchased supplies costing $3,400 on account. The company records supplies purchased in an asset account. At the year-end on December 31, 2018, supplies costing supplies costing $1,550 remained on hand.

4.Nov. 1 A customer borrowed $7,800 and signed a note requiring the customer to pay principal and 8% interest on April 30, 2019.

Required:

1. Record each transaction in general journal form.

2. Prepare any necessary adjusting entries at the year-end on December 31, 2018. No adjusting entries were recorded during the year for any item.