E R T Y CHAPTER 10 Current Liabilities Problem 10-3A Transactions with current notes payable LO3 excel Zing Cell Phone Company entered into the following transactions involving current liabilities during 2020 and 2021: Mar 2020 14 14 Purchased merchandise on credit from Ferris Inc. for $150,000. The terms were 1/10, n/30 (assume a perpetual inventory system). Zing paid $30,000 cash and replaced the $120,000 remaining balance of the account payable to Ferris Inc. with a 5%, 60-day note payable. Borrowed $130,000 from Scotiabank by signing a 4.5%, 90-day note. Apr. 14 May 21 7 ? Paid the note to Scotiabank at maturity. Dec. 15 Dec. 31 2021 Required Paid the note to Ferris Inc. at maturity. Borrowed $105,000 and signed a 5.25%, 120-day note with National Bank. Recorded an adjusting entry for the accrual of interest on the note to National Bank. ? Paid the note to National Bank at maturity. 1. Determine the maturity dates of the three notes just described. 2. Present journal entries for each of the preceding dates. Problem 10-4A Estimated product warranty liabilities LO4 CHECK FIGURES: 2. $1.750; 3. $40.600: 4. $40145