3. Sebastian's Music Limited had the following transactions for the month of March 2020: March 5, 2020 - the company borrowed $50,000 signing a promissory note. March 10, 2020 - the company purchased equipment for $45,000. March 15, 2020 - the company paid their employees $7,500. March 20, 2020 - the company purchased office supplies for $2,500 on account. 3. Sebastian's Music Limited had the following transactions for the month of March 2020: March 5, 2020 - the company borrowed $50,000 signing a promissory note. March 10, 2020 - the company purchased equipment for $45,000. March 15, 2020 - the company paid their employees $7,500. March 20, 2020 - the company purchased office supplies for $2,500 on account. Required: Prepare journal entries to record the above. Debit Credit Date Account Titles