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The following transactions occurred during 2021 for the Beehive Honey Corporation: Feb. 1 Borrowed $14,8ee from a bank and signed a note. Principal and interest
The following transactions occurred during 2021 for the Beehive Honey Corporation: Feb. 1 Borrowed $14,8ee from a bank and signed a note. Principal and interest at 9% will be paid on January 31, 2022. Apr. 1 Paid $4,8ee to an insurance company for a two-year fire insurance policy. July 17 Purchased supplies costing $3,eee on account. The company records supplies purchased in an asset account. At the year-end on December 31, 2021, supplies costing $1,350 remained on hand. Nov. 1 A customer borrowed $6,680 and signed a note requiring the customer to pay principal and 7% interest on April 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 journal entry required" in the first account field.) View transaction list Journal entry worksheet Journal entry worksheet Purchased supplies costing $3,000 on account. The company records supplies purchased in an asset account. At the December 31, 2021, year-end, supplies costing $1,350 remained on hand. Note: Enter debits before credits. Journal entry worksheet Purchased supplies costing $3,000 on account. The company records supplies purchased in an asset account. At the year-end on December 31, 2021, supplies costing $1,350 remained on hand. Note: Enter debits before credits Journal entry worksheet
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