During the past two years the following selected transactions occurred for Bass Boats Inc.: Year 1 5-Jan Purchased equipment for $100,000, signing a 9 month, 6% note Payable. 26-Jan Recorded the week's sales of $75,000, 70% on account and 30% cash. All sales are subject to a 6 1/2% sales tax. 7-Feb Remitted last week's sales tax to the appropriate government agency. 1-May Borrowed $150,000 on a 6 year, 8% note payable calling for annual interest payments beginning next May 1. 5-Oct Paid off the January 5 note payable. 30-Nov Purchased inventory at a cost of $7,200, signing a 3-month, 8% note payable for that amount. 31-Dec Accrued warranty expense is estimated at 3% of total sales of $1,000,000. 31-Dec Record accrued interest on all outstanding notes payable (make a separate journal entry for each). Year 2 28-Feb Paid off the 8% inventory note plus interest at maturity 1-May Paid the interest for one year on the long-term note payable. Requirements: 1 Record the transactions in the journal. Omit explanations. Journal Date Accounts Post. Ref Debit Credit 5 Jan How do I enter this in to a balance sheet