ebook Payable Transactions Richmond Company engaged in the following transactions Purchased $32,000 of supplies from ABC Supplies on February 16. Amount due in full on March 31 b. Paid for 25% of the purchased merchandise (transaction a) on February 26. On March 31, negotiated a payment extension with ABC for the remainder of the balance from the February 16 purchase by signing a 1-year, 10% nabe d. Borrowed $300,000 on a 10-month, 8% interest-bearing note on April 30. e Purchased $76,000 of merchandise on June 4, Amount due in full on June 30 t Paid for the purchased merchandise (transaction e) on June 24, Received from Haywood, Inc, on August 19 a $31,000 deposit against a total seiling price of $310,000 for services to be performed for Haywood. h. Paid quarterly instaliments of Social Security and Medicare and individual income tax withholdings, as shown below, an October 15. The Social Security and Medicare were previously recorded as expenses during the quarter and the amounts paid represent both the employee and employer shares (50% each Social Security taxes withheld Medicare taxes withheld Federal income taxes withheld $185,000 43.200 319,000 On December 15, Richmond completed the services ordered by Haywood on August 19. Haywood's remaining balance of $279,000 is due os January 31. Required 1. Prepare Soumal entries for these transactions. If an amount box does not require an entry, leave it blank Feb. 16 b. Feb 26 C. Mar 31 (Record purchase of supplies on account)) (Record partial payment of supplier) (Record seance of nate to cover unpaid portion of account payable) 88 Apr 30 Check My Work more Check My Work mining Previous