Given Data:
February 4, 2020	Merchandise purchased on credit from Shape Products	$ 156,000
	Terms	2/10, n/60
March 2, 2020	Cash borrowed from First Provincial Bank	$ 133,000
	Interest rate	4.5%
	Term of the note (days)	30
April 1, 2020	Paid note owing to First Provincial Bank
April 5, 2020	Cash paid to Shape Products	$ 16,000
	Account payable replaced with note payable	$ 140,000
	Interest rate	5%
	Term of the note (days)	30
May 5, 2020	Paid note owing to Shape Products
November 16, 2020	Cash borrowed from First Provincial Bank	$ 216,000
	Interest rate	4%
	Term of the note (days)	60
December 1, 2020	Cash borrowed from Bank of Montreal	$ 30,000
	Interest rate	5%
	Term of the note (days)	90
December 31, 2020	Accrued interest owing on note to First Provincial Bank
December 31, 2020	Accrued interest owing on note to Bank of Montreal
January 15, 2021	Paid the November 16 note to First Provincial Bank.
March 1, 2021	Paid the principal and interest on the December 1 note given to the Bank of Montreal.
Account Titles for Journal Entries (note that not all accounts may be necessary to complete the problem):
Cash
Merchandise inventory
Accounts payable Bank of Montreal
Accounts payable First Provincial Bank
Accounts payable Shape Products
Interest payable
Notes payable Bank of Montreal
Notes payable First Provincial Bank
Notes payable Shape Products
Interest expense