The following transactions occurred during 2021 for the Beehive Honey Corporation:

Feb.		1		Borrowed $12,000 from a bank and signed a note. Principal and interest at 10% will be paid on January 31, 2022.
Apr.		1		Paid $3,600 to an insurance company for a two-year fire insurance policy.
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, 2021, 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, 2022.

Required: A. Record each transaction in general journal form. B. Prepare any necessary adjusting entries at the year-end on December 31, 2021. No adjusting entries were recorded during the year for any item.

A. Borrowed $12,000 from a bank and signed a note. Principal and interest at 10% will be paid on January 31, 2022.

Paid $3,600 to an insurance company for a two-year fire insurance policy.

Purchased supplies costing $2,800 on account. The company records supplies purchased in an asset account. At the December 31, 2021, year-end, supplies costing $1,250 remained on hand.

A customer borrowed $6,000 and signed a note requiring the customer to pay principal and 8% interest on April 30, 2022.

B. Borrowed $12,000 from a bank and signed a note. Principal and interest at 10% will be paid on January 31, 2022.

Paid $3,600 to an insurance company for a two-year fire insurance policy.

Purchased supplies costing $2,800 on account. The company records supplies purchased in an asset account. At the year-end on December 31, 2021, supplies costing $1,250 remained on hand.

A customer borrowed $6,000 and signed a note requiring the customer to pay principal and 8% interest on April 30, 2022.