Jack Hammer Company completed the following transactions. The annual accounting period ends December 31. Apr. 30 Received $570,000 from Commerce Bank after signing a 12-month, 6 percent, promissory note. June 6 Purchased merchandise on account at a cost of $73,000. (Assume a perpetual inventory system. ) July 15 Paid for the June 6 purchase. Aug. 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 $22,800. Dec. 31 Determined salary and wages of $38,000 were earned but not yet paid as of December 31 (ignore payroll taxes). Dec. 31 Adjusted the accounts at year-end, relating to interest. Dec. 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Prepare journal entries for each of the transactions through August 31 and adjusting entries required on December 31. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) No Date General Journal Debit Credit 1 Apr 30 Cash 735,000 X Notes Payable (short-term) 735,000 X Prepare journal entries for each of the transactions through August 31 and adjusting entries required on December 31. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) No Date General Journal Debit Credit 1 Apr 30 Cash 735,000 X Notes Payable (short-term) 735,000 X 2 Jun 06 84.000 x Inventories Accounts Payable 84.000 x 3 Jul 15 84,000 X Accounts Payable Cash 84,000 X 4 Aug 31 Cash 22,800 Service Revenue 22,800 5 Dec 31 49,000 X Salaries and Wages Expense Salaries and Wages Payable 49,000 X 6 Dec 31 29,400 X Interest Expense Interest Payable oo 29,400 X 7 Dec 31 19,600 X 19,600 X Req 1 and 2 Req 3 Show how all of the liabilities arising from these items are reported on the balance sheet at December 31. (Do not round intermediate calculations.) JACK HAMMER COMPANY Balance Sheet (partial) At December 31 $ 0