The following were among the transactions of Grace Company during the year ended December 31:

Instructions 1. Record these transactions in a general journal (page 18).
2. Immediately following each journal entry, record each note in the notes pay¬
able register (page 7). Fill in the date paid after journalizing the entry to pay the note, or fill in “renewed” if not paid.
3. On December 31, record the adjusting entries to account for accrued interest expense for the NesCo and Hall notes, as well as the adjustment of Discount on Notes Payable on the Trent Bank note.
4. On January 1, record the reversing entry. (Assume closing entries have been made.)
5. On January 13, record the payment of the note to NesCo.
6. On January 17, record the payment of the note to Trent Bank.
7. On January 17, record the entry to expense the discount on the Trent note.
8. On February 15, record tfie payment of the note to Hall Company.

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June 10 Gave a 30-day, 9 percent note, dated June 10, to Baker, Inc. for $61,000, for an addition to the building. 15 Borrowed $26,100 from Mesa Bank, signing a 3-month, 8.5 percent note for that amount, dated June 15 (received full face value). Paid the amount owed on the note given to Baker, Inc. July 10 10 Gave a note to D. J., Inc. for the purchase of office equipment, $9,242, at 8.5 percent for 120 days, dated July 10. The invoice was not previously recorded. Sept. 15 Paid interest on the note given to Mesa Bank; renewed loan by issu- ing note for 60 days at 8 percent, dated September 15. Nov. 7 14 Dec. Paid the amount owed on the 120-day note given to D. J., Inc. Gave two notes to NesCo in settlement of their November 14. invoice for merchandise, as follows: $11,200, 30 days, 8 percent, dated November 14; $11,200, 60 days, 8 percent, dated November 14. The invoice was not previously recorded. 14 Paid the note given to Mesa Bank. 14 Paid the amount owed on the 30-day note given to NesCo. 17 Issued a 60-day, 8.5 percent note, dated December 17, payable to Hall Company, in settlement of November 17 bill for merchandise, $18,950. The invoice was previously recorded. 18 Borrowed $30,000 from Trent Bank for 30 days; discount rate is 8.5 percent; issued a discounted note, dated December 18, for $30,000 (debit Discount on Notes Payable since the note extends into the next fiscal period).