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The following transactions occurred during 2021 for the Beehive Honey Corporation: Feb. 1 Barrowed $26,000 from a bank and signed a note. Principal and interest
The following transactions occurred during 2021 for the Beehive Honey Corporation: Feb. 1 Barrowed $26,000 from a bank and signed a note. Principal and interest at 12% will be paid on January 31, 2022. Apr. 1 Paid $6,400 to an insurance company for a two-year fire insurance policy. July 17 Purchased supplies casting $4,200 on account. The company records supplies purchased in an asset account. At year-end on December , 2021, coating $1,950 remained on hand Nov. 30, 2022. Required: 1. Record each transaction in general journal form. 2. Prepare any necessary adjusting entries at the year-end on December 31, 2021. No adjusting entries were recorded during the year for any item. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Record each transaction in general Journal form. (If no entry is required for a transaction/event, select "No joumal entry required in the first account field.) View transaction list Journal entry worksheet Borrawed $26,000 from a bank and signed a note. Principal and interest at 12% will be paid on January 31, 2022. Note: Enter cebits before credits. Date General Journal Debit Credit Feb 01, 2021 Record entry Clear entry View general Journal
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