U la course id-_162647 1&content id=7918094 18 outcome id=5356170 1&outcome definition id-1598954 1 + Miller Corporation Problem 11 For each transaction 1. Prepare the journal entries for the year 2020 2. Prepare the December 31, 2020 year-end adjusting entries necessary for each item or indicate that an adjusting entry is not required. a) On July 1, 2020, a two-year comprehensive insurance policy was purchased for $1.200. b) On December 1, 2020, Miller borrowed $12,000 from its bank. The principal, plus interest computed at a 10% annual rate, is due on June 1, 2021 Name Problem! Miller Corporation December 2020 DATE Description DEBIT CREDIT a.) July 1 Dec. 31