Record the Year 1 transactions in general journal form.

The following transactions apply to Walnut Enterprises for Year 1, its first year of operations: 1. Received $43,000 cash from the issue of a short-term note with a 5 percent interest rate and a one-year maturity. The note was made on April 1, Year 1. 2. Received $118,000 cash plus applicable sales tax from performing services. The services are subject to a sales tax rate of 7 percent. 3. Paid $72.000 cash for other operating expenses during the year. 4. Paid the sales tax due on $98,000 of the service revenue for the year. Sales tax on the balance of the revenue is not due until Year 2. 5. Recognized the accrued interest at December 31, Year 1.