For each question 1-3, prepare the journal entry for the transaction described. Please provide brief explanations for each transaction. Then record the t-account solution. Each is an independent situation. Do not combine transactions.

97. An owner buys a $20,000 car for her business and pays with a company check.

98. A business sells a customer merchandise for $16,000 on account.

99. A business paid cash of $600 for interest expense on a note payable. Interest was previously accrued.