The following transactions of Taurus Oil Company occurred during 19X2 and 19X3.

\section*{Required}

Record the transactions in the company's general journal. Explanations are not required.

\section*{\(19 \mathrm{X} 2\)}

Feb. 3 Purchased a machine for \(\$ 6,200\), signing a six-month, 8-percent note payable.

28 Recorded the week's sales of \(\$ 51,000\), one-third for cash, and two-thirds on credit. All sales amounts are subject to a 5 -percent state sales tax.

Mar. 7 Sent the last week's sales tax to the state.

Apr. 30 Borrowed \(\$ 100,000\) on a 9-percent note payable that calls for annual installment payments of \(\$ 25,000\) principal plus interest.

May 10 Received \(\$ 1,125\) in security deposits from customers. Taurus refunds most deposits within three months.

Aug. 3 Paid the six-month, 8-percent note at maturity.

10 Refunded security deposits of \(\$ 1,125\) to customers.

Sep. 14 Discounted a \(\$ 6,000,7\)-percent, 60 -day note payable to the bank, receiving cash for the net amount after interest was deducted from the note's maturity value.

Nov. 13 Recognized interest on the 7-percent discounted note and paid off the note at maturity. 30 Purchased inventory at a cost of \(\$ 7,200\), signing a 9 -percent, three-month note payable for that amount.

Dec. 31 Accrued warranty expense, which is estimated at 3 percent of sales of \(\$ 145,000\).

31 Accrued interest on all outstanding notes payable. Made a separate interest accrual entry for each note payable.

\(19 \mathrm{X} 3\)

Feb. 28 Paid off the 9-percent inventory note, plus interest, at maturity.

Apr. 30 Paid the first installment and interest for one year on the long-term note payable.