Jack Hammer Company completed the following transactions. The annual accounting period ends December $31.$ ?April $30$ ?Received $ $525,000$ ?from Commerce Bank after signing a $12-$ month, $6$ ?percent, promissory note. June $6$ ?Purchased merchandise on account at a cost of $ $70,000.($ Assume a perpetual inventory system. $)$ ?July $15$ ?Paid for the June $6$ ?purchase. August $31$ ?Signed a contract to provide security service to a small apartment complex starting in September, and collected six months' fees in advance, amounting to $ $21,000.$ ?December $31$ ?Determined salary and wages of $ $35,000$ ?were earned but not yet paid as of December $31($ ignore payroll taxes $).$ ?December $31$ ?Adjusted the accounts at year $-$ end, relating to interest. December $31$ ?Adjusted the accounts at year $-$ end, relating to security service. Required: $1.$ ?& $2.$ ?Prepare journal entries for each of the transactions through August $31$ ?and adjusting entries required on December $31.3.$ ?Show how all of the liabilities arising from these items are reported on the balance sheet at December $31.$