Due to the recent economic downturn, Brown Inc. is having difficult paying off their suppliers. Fortunately, one of their suppliers has agreed to convert the amounts owing into a note payable. The note payable is issued on September 1, 2013 for an amount of $72,000, and is due 12 months from now with an interest rate of 5% per year. Brown Inc. has a December 31st year-end.

Do not enter dollar signs or commas in the input boxes. Round your answers to the nearest whole dollar. For transactions with more than one debit, enter the accounts in alphabetical order.

Date	Account Title and Explanation	Debit	Credit
Sep 1	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockCost of Goods SoldDelivery TruckEstimated Warranty LiabilityInterest ExpenseInterest PayableInterest ReceivableInterest RevenueInventoryLoan PayableNotes PayablePrepaid RentRent ExpenseSalaries ExpenseSales RevenueShareholders' LoanSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned RevenueUtilities ExpenseWarranty Expense	Answer
	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockCost of Goods SoldDelivery TruckEstimated Warranty LiabilityInterest ExpenseInterest PayableInterest ReceivableInterest RevenueInventoryLoan PayableNotes PayablePrepaid RentRent ExpenseSalaries ExpenseSales RevenueShareholders' LoanSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned RevenueUtilities ExpenseWarranty Expense		Answer
	To convert accounts payable to a note
Dec 31	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockCost of Goods SoldDelivery TruckEstimated Warranty LiabilityInterest ExpenseInterest PayableInterest ReceivableInterest RevenueInventoryLoan PayableNotes PayablePrepaid RentRent ExpenseSalaries ExpenseSales RevenueShareholders' LoanSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned RevenueUtilities ExpenseWarranty Expense	Answer
	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockCost of Goods SoldDelivery TruckEstimated Warranty LiabilityInterest ExpenseInterest PayableInterest ReceivableInterest RevenueInventoryLoan PayableNotes PayablePrepaid RentRent ExpenseSalaries ExpenseSales RevenueShareholders' LoanSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned RevenueUtilities ExpenseWarranty Expense		Answer
	To record interest accrued
Aug 31	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockCost of Goods SoldDelivery TruckEstimated Warranty LiabilityInterest ExpenseInterest PayableInterest ReceivableInterest RevenueInventoryLoan PayableNotes PayablePrepaid RentRent ExpenseSalaries ExpenseSales RevenueShareholders' LoanSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned RevenueUtilities ExpenseWarranty Expense	Answer
	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockCost of Goods SoldDelivery TruckEstimated Warranty LiabilityInterest ExpenseInterest PayableInterest ReceivableInterest RevenueInventoryLoan PayableNotes PayablePrepaid RentRent ExpenseSalaries ExpenseSales RevenueShareholders' LoanSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned RevenueUtilities ExpenseWarranty Expense	Answer
	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockCost of Goods SoldDelivery TruckEstimated Warranty LiabilityInterest ExpenseInterest PayableInterest ReceivableInterest RevenueInventoryLoan PayableNotes PayablePrepaid RentRent ExpenseSalaries ExpenseSales RevenueShareholders' LoanSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned RevenueUtilities ExpenseWarranty Expense	Answer
	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockCost of Goods SoldDelivery TruckEstimated Warranty LiabilityInterest ExpenseInterest PayableInterest ReceivableInterest RevenueInventoryLoan PayableNotes PayablePrepaid RentRent ExpenseSalaries ExpenseSales RevenueShareholders' LoanSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned RevenueUtilities ExpenseWarranty Expense		Answer
	To record the payment of note payable