i Transactions 2017 Mar. Apr. 3 Purchased a Steinway piano (inventory) for $41,500, signing a six-month, 10% note. 30 Borrowed $54,500 on a 9% note payable that calls for annual installment payments of $27,250 principal plus interest. Record the short-term note payable in a separate account from the long-term note payable. 3 Paid the six-month, 10% note at maturity. 31 Accrued warranty expense, which is estimated at 2% of sales of $194,000 31 Accrued interest on the outstanding note payable. Sept. Dec. 2018 Apr. 30 Paid the first installment plus interest for one year on the outstanding note payable. Print Done The following transactions of Smooth Sounds Music Company occurred during 2017 and 2018: (Click the icon to view the transactions.) Requirement Record the transactions in Smooth Sounds's journal. Explanations are not required. Requirement. Record the transactions in Smooth Sounds's journal. (Record debits first, then credits. Explanations are not required.) Purchased a Steinway piano (inventory) for $41,500, signing a six-month, 10% note. Journal Entry Accounts Debit Credit Date 2017 Mar. 3 stallment payments of $27,250 principal plus interest. Record the short-term note payable in a separate account from the long-term note payable. Accounts Receivable Cash Estimated Warranty Payable Borrowed $54,5 Interest Expense Interest Payable Inventory Date Notes Payable, Long-term Notes Payable, Short-term Apr. 30 Sales Revenue Warranty Expense Debit Credit 2017 Borrowed $54,500 on a 9% note payable that calls for annual installment payments of $27,250 principal plus interest. Record the short-term note payable in a separate account from the long-term note payable. Journal Entry Accounts Debit Credit Date 2017 Apr. 30 Paid the six-month, 10% note at maturity. (Hold all decimals for interim calculations. Round your final ans Journal Entry Accounts Debit Credit Date 2017 Sept. 3|| Accrued warranty expense, which is estimated at 2% of sales of $194,000. Journal Entry Accounts Debit Credit Date 2017 Dec. 31 Accrued interest on the outstanding note payable. (Hold all decimals for interim calculations. Round your final answer to the nearest whole number.) Journal Entry Date Accounts Debit Credit 2017 Dec. 31 Paid the first installment plus interest for one year on the outstanding note payable. (Hold all decimals for interim calculations. Round your final answer to the nearest whole number.) Journal Entry Date Accounts Debit Credit 2017 Apr. 30 Choose from any list or enter any number in the input fields and then continue to the next