15 OP 41 ADC Comp . GOODS PURCHASED Acron P Woo 5 .. SABC C 5. h The urch 6:29 ABC barrows and from H est a cing Company of this $100, din A C - 630 ABC pays the modelo 829 ABCs the Highlights one in full Problems (10 points each) 16. Journal the transactions below. Ignore monthly interest accrual, but record all interest at maturity 4/1 ABC Company purchased $5,000 of goods from Gates Company on account GOODS PURCHASED Judo AcouMS PAYABLE 5. doo 571 ABC Company is issued a note for the goods purchased on 1/1 to Gates Company in payment on the $5,000 account. The terms were 60 days, 12%. In addition, required: What kind of note is this? (Hint: The answer is not short-term or current liability) 6/29 ABC borrows funds from Highlights financing Company. The terms are all principle and interest due upon maturity. The face of the note is 55,100, due in 60 days. ABC Company receives $5,000 in cash. In addition, required: What kind of note is this? (Hint: The answer is not short-term or current liability) 6/30 ABC pays the note to Gates Company in full. 8/29 ABC pays the Highlights note in full