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Required information [The following information applies to the questions displayed befiow] Business Sim Corporation (BSC) entered into the following four transactions: (o) issued 1,500 common shares to Kelly in exchange for $22,000, (b) Borrowed $43,000 from the bank, promising to repay it in two years. (c) Bought computer equipment by signing check number 101 in the amount of $48,000 and signing a promissory note for $7,000 due in six months. This loan contains a clause (covenant") that requires Business Sim Corporation (BSC) to maintain a ratio of current assets to current liabilities of at least 2,1. (d) Received \$1,100 of supplies and promised to pay for them in 30 days. - Prepare journal entries for the transactions described b. Prepare T-accounts. Assume all beginning balances are zero. Complete this question by entering your answers in the tabs below. Prepare journal entries for the transactions described. (If no entry is required for a bansactionvevent, select "No Journal Entry Required" in the first account feld.) Journal entry worksheet Business Sim Corp. (ESC) issued 1,500 common shares to Kelly in exchange for $22,000. Record the transaction. Notri fintrir debta betare creitits. Required information The following information applies to the questions displayed below] Business Sim Corporation (BSC) entered into the following four transactions (a) issued 1,500 common shares to Kelly in exchange for $22,000. (b) Borrowed $43,000 from the bank, promising to repay it in two years. (c) Bought computer equipment by signing check number 101 in the amount of $48,000 and signing a promissory note for $7,000 due in six months. This loan contains a clause ("covenant) that requires Business 5m Corporation (BSC) to maintain a ratio of current assets to current liabilities of at least 21 (d) Received $1100 of supplies and promised to pay for them in 30 days 2-a. Prepare journal entries for the transactions described 2-b. Prepare T-accounts. Assume all beginning balances are zero Complete this question by entering your answers in the tabs below. Prepare T-accounts. Assume all beginning balances are zero

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