Instructions The following items were selected from among the transactions completed by Shin Co during the current year. Jan 10 Feb 9 Mar 11 May 1 Purchased merchandise on account from Beckham Co $420,000 terms n/30 issued a 30-day, 6% note for $420,000 to Beckham Co. on account Paid Beckham Co the amount owed on the note of February 9, Borrowed $240,000 from Verity Bank issuing a 45-day, 5% note Purchased tools by issuing a $312.000, 60-day note to Rassmuessen Co. which discounted the note at the rate of 5% Paid Verity Bank the interest due on the note of May 1 and renewed the loan by Issuing a new 45-day 796 note for $240,000. (Journalize both the debit and credit to the notes payable account) June 1 15 July 30 Paid Verity Bank the amount due on the note of June 15 30 Paid Rassmuessen Co the amount due on the note of June 1 Dec 1 15 Purchased office equipment from Lambert Co for $700 500 paying $160,500 and issuing a series of ten 5% notes for $54,000 each coming due al 30 day intervals Settled a product liability lawsuit with a customer for $144,200 payable in January Shin accrued the loss in a litigation claims payable account Pald the amount due Lambert Co on the first hole in the series issued on December 1 31 Required: 1 Woumalize the transactions Refer to the chart of accounts for the exact worang on me account titles CNOW Tournais do not use as Yon Journal explanations. Every ine on a joumal page is used for debitor credentries NOW Journals wir automatically indent a credit entry when a credit amounts entered Assume a 360 day year 2. Journalze the adjusting entry for each of the following accrued expenses at the end of the current year refer to the chart of accounts for the exact wording of the accountitles ONOWJournals do poses for ouma explanations. Every ine on a journal page is used for dobita Credit on CNOW journals will automatically indent a credit entry when credit amount is entered a Product warranty cost $19.500 binterest on me ne remaining notes owed to Lambert Co. Assume a 360 day year