Liability Transactions The following items were selected from among the transactions completed by Sherwood Co. during the current year: Feb. 15. Purchased merchandise on account from Kirkwood Co., $144,000, terms n/30. Mar. 17. issued a 60-day, 8% note for $144,000 to Kirkwood Co., on account. May 16. Pald Kirkwood Co. the amount owed on the note of March 17. June 15. torrowed $148,800 from Triple Creek Bank, Issuing a 60-day, 9% note. July 21. Purchased tools by issuing a $120,000, 90-day note to Poulin Co., which discounted the note at the rate of 8% Aug. 14. Paid Triple Creek Bank the Interest due on the note of June 15 and renewed the loan by issuing a new 60-day, 10% note for $148,800. Journalize both the debit and credit to the notes payable account.) Oct. 13. Paid Triple Creek Bank the amount due on the note of August 14 Oct. 19. Paid Poulin Co, the amount due on the note of July 21. Dec. 1. Purchased office equipment from Greenwood Co. for $120,000, paying $20,000 cash and issuing a series of ten 6% notes for $10,000 each coming due at 30-day Intervals. Dec. 12 settled a product liability towsuit with a customer for $71,000, payable in January, Accrued the loss in a litigation claims payable account. Dec 31. Poid the amount due to Greenwood Co. on the first note in the series sued on December 1 Requiredi 1. Journalize the transactions 1 an amount box does not require an entry, leave it blank. Assume a 360-day year. It required, round to one decimal place. Don't found the intermediate calculations. For a compound transaction, accounts should be listed largest to smallest Date Account Debit Credit Feb. 15 Inventory Accounts Payable-Kirkwood Co. we comentaris show Data A 1. PR100 ALCO Cree Debit Z PRO COB. ALGO 1 EXD14 PALOSO ALGO Mar. 17 Aceasta yake kwa PILOGUE ALGO EXD OF May 16 7. EXD 04 ALOO 15 Notes Payable 21 Notes vai A 14 Notes Payable Notes Pay Cash Tamara OLI TOTALGO 2. PRECALGO 2 EX0.14 Dec om 4. PR00.000 ALGO Cash 5. PR. 10.078. ALGO ELD BY Dec 12 La Claims 7. EXO 4 ALGO De 2. Journal the ting entry warhewig atrods at the end of the current) product warranty cost, 113,700) on the nine ang es weito de Pem Account Debit Crest Product Warranty Payable Press Time CHC