John’s Anti-Mediation League (JAML), a sole proprietorship, engaged in the following transactions in 1999: 1. On January 1, JAML borrowed $100,000 at 6% per year with interest due quarterly. 2. JAML paid a $1,000 kickback to a good friend who helped obtain the loan. 3. JAML had not yet paid any interest after the loan had been in effect for three months. 4. On June 30, JAML paid the interest due. 5. On July 1, JAML renegotiated the terms of the loan, which increased the interest rate to 9% per year. 6. At the end of September, John paid the interest on the loan from his personal account. 7. At the end of December, JAML accrued the interest due. 8. On January 1, 2000, JAML paid the interest due to the lender and to John’s personal account.

Required Record these transactions, using the accounting equation?  p-968