Gates Supply Company completed the following transactions. Record them in general journal form.
a. Purchased merchandise for $ 16,500 on November 17, giving a 30-day, 6.5 percent note, dated November 17, to Liston Company in exchange for the merchandise.
b. On December 17, Gates is unable to pay the principal of the note due but pays the interest due.
c. On December 17, Gates renews the $ 16,500 note for 60 days at 7 percent, dated December 17.
d. On December 31, Gates makes the adjusting entry for accrued interest.