Lions of Smith Technology occurred during 2020, The Company's year end is December 31. 2020 March 3 a March 31 April 7 May 31 Purchased a machine for $70,000., signing a six month, 5% note payable. Recorded the month's sales of $140,000., one quarter for cash and three quarters on credit. All sales amounts are subject to 5% GST,to be calculated on the sales of $140,000 Pay March's GST to the Government. Borrowed $80,000. With a 5% note payable that calls for annual installment repayments of $20,000, principle plus interest. Paid off the six month 5% note at maturity. Purchase inventory at a cost of $25,000. signing a 5%, six month note payable for that amount. Accrued warranty expense, which is estimated at 2% of annual sales of $1,500,000 Accrued interest expenses on all outstanding notes payable. Sept 3 Sept 30 Dec 31 Dec 31 Please make a separate interest accrual for each note payable. Calculate the interest on the notes payable on a monthly basis