Consider the following note payable transactions of Cabino Video Productions (Click the icon to view the transactions.) Journalize the transactions for the company. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) May 1, 2017: Purchased equipment costing $20,000 by issuing a one-year, 3% note payable. More Info Accounts and Explanation Debit Date Credit 2017 May 1 2017 1 Purchased equipment costing $20,000 by issuing a one-year, 3% note payable May Dec 31 Accrued interest on the note payable. 2018 1 Paid the note payable plus interest at maturity May Print Done