CengageNOWv2 | Online teachir .om/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession... eBook Show Me How Print Item Liability Transactions The following items were selected from among the transactions completed by Shin Co. during the current year: Jan. 10. Purchased merchandise on account from Beckham Co., $144,000, terms n/30. Feb. 9. Issued a 30 -day, 6% note for $144,000 to Beckham Co., on account. Mar. 11. Paid Beckham Co. the amount owed on the note of February 9. May 1. Borrowed $158,400 from Verity Bank, issuing a 45 -day, 7%-note. June 1. Purchased tools by issuing a $72,000,60-day note to Rassmuessen Co., which discounted the note at the rate of 7%. 15. Paid Verity Bank the interest due on the note of May 1 and renewed