Ludwig Inc. entered into the following transactions involving short-term liabilities during 2014 and 2015. Prepare journal entries to record these transactions for Ludwig Inc. Enter the transaction letter as the description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (i.e., January 15 would be 15/Jan). Round all amounts to the nearest cent. e. a. June 26 : Borrowed $20,000 from Canada Trust Bank by signing a 12%, 30-day note. b. ? : Paid the note to Canada Trust Bank maturity. c. September 6 : Ludwig Inc. purchased merchandise on credit from Callaho Inc., terms 2/10, n/90, $26,000. d. September 22 : $31,000 was borrowed from Royal Bank by signing a 9%, 30-day note. ? : The note to Royal Bank was paid at maturity. f. December 5 : Ludwig Inc. paid $11,000 cash and replaced the $15,000 remaining balance of the account payable with Callaho Inc. for a 12%, 30-day note. g. December 31: An adjusting entry of the accrual of interest on the note to Callaho Inc. was recorded. h. ? : The note to Callaho Inc. was paid at maturity. General Journal Account/Explanation Page Gj1 F Debit Credit Date a. June 26 : Borrowed $20,000 from Canada Trust Bank by signing a 12%, 30-day note. b. ? : Paid the note to Canada Trust Bank at maturity. c. September 6: Ludwig Inc. purchased merchandise on credit from Callaho Inc., terms 2/10, n/90, $26,000. d. September 22: $31,000 was borrowed from Royal Bank by signing a 9%, 30-day note. ? : The note to Royal Bank was paid at maturity. f. December 5: Ludwig Inc. paid $11,000 cash and replaced the $15,000 remaining balance of the account payable with Callaho Inc. for a 12%, 30-day note. g. December 31: An adjusting entry of the accrual of interest on the note to Callaho Inc. was recorded. h. ? : The note to Callaho Inc. was paid at maturity. e. General Journal Account/Explanation Page Gj1 F Debit Credit Date + - Date Account/Explanation F Debit Credit + - 1 +