January 3, 2022	Purchased a machine at a cost of $395,000 plus 5-percent GST, signing a 5-percent, six-month note payable for that amount.
January 29, 2022	Recorded the month's sales of $1,690,000 (excludes PST and GST), 75 percent on credit and 25 percent for cash. Sales amounts are subject to 8-percent PST and 5-percent GST.
February 5, 2022	Paid January's PST and GST to the appropriate authorities.
February 28, 2022	Borrowed $3,200,000 on a 6-percent note payable that calls for annual instalment payments of $320,000 principal plus interest.
July 3, 2022	Paid the six-month, 5-percent note at maturity.
November 30, 2022	Purchased inventory for $310,000 plus GST, signing a six-month, 6-percent note payable.
December 31, 2022	Accrued warranty expense, which is estimated at 2 percent of annual sales of $8,200,000.
December 31, 2022	Accrued interest on all outstanding notes payable. Make a separate interest accrual entry for each note payable.
February 28, 2023	Paid the first instalment and interest for one year on the long-term note payable.
May 31 2023	Paid off the 6-percent note plus interest at maturity.