Feb 15 Purchased merchandise on account from Viper Co., $260,000, terms n/30 March 17. Issued a 45-day, 5% note for $260,000 to Viper Co. , on account. May 1 Paid Viper Co., the amount owed on the note of March 17. June 15. Borrowed $ 300,000 from Ima Bank, issuing a 60-day , 9% note July 21. Purchased tools by issuing a $ 240,000, 60-day note to Charger Co., which discounted the note at the rate of 7%