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The following transactions occurred during 2018 for the Beehive Honey Corporation: Feb. 1 Borrowed $12,000 from a bank and signed a note. Principal and interest

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The following transactions occurred during 2018 for the Beehive Honey Corporation: Feb. 1 Borrowed $12,000 from a bank and signed a note. Principal and interest at 10% Apr 1 Paid $3,600 to an insurance company for a two-year fire insurance policy will be paid on January 31, 2019 July 17 Purchased supplies costing $2,800 on account. The company records supplies purchased in an asset account. At the year-end on December 31, 2018, supplies costing $1,250 remained on hand Nov. 1 A customer borrowed $6,000 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 Complete this question by entering your answers in the tabs below. Required Required 2 Prepare any necessary adjusting entries at the December 31, 2018, year-end. No adjusting entries were recorded during the year for any item. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Import a new list 1 On February 1, 2018 Beehive Honey Corporation borrowed $12,000 from a bank and signed a note. Principal and interest at 10% will be paid on January 31, 2019. ry 31, 2 On April 1, 2018 Beehive Honey Corporation paid $3,600 to an insurance company for a two-year fire insurance policy. Credit 3 On July 17, supplies were purchase for $2,800 and recorded in an asset account. At December 31, year-end, supplies costing $1,250 remained on hand. Note: journal entry has been entered Record entry Clear entry View general journal

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