Payable Transactions Richmond Company engaged in the following transactions: a. Purchased $28,000 of supplies from ABC Supplies on February 16. Amount due in full on March 31 . b. Paid for 25% of the purchased merchandise (transaction a) on February 26. c. On March 31, negotiated a payment extension with ABC for the remainder of the balance from the February 16 purchase by signing a 1 -year, 10% note. d. Borrowed $300,000 on a 10 -month, 8% interest-bearing note on Apral 30 . e. Purchased $78,000 of merchandise on June 4. Amount due in full on June 30. f. Paid for the purchased merchandise (transaction e) on June 24. 9. Received from Haywood, Inc, on August 19 a $27,000 deposit against a total selling price of $270,000 for services to be performed for Harywood. h. Paid quarterly installments of Social Security and Medicgre and individual income tax withholdings, as shown below, on October 15 . The Social Security and Medie were previously recorded as expenses during the quarter and the amounts paid represent both the employee and employer shares (50\% each): 2. Prepare any adjusting entries necessary at December 31 . If an amount box does not require an entry, leave it blank. Dec 31 x (Record accrued interest) Fahesa TOhock My Wor Expenses must be matched to the period they helped produce revenues