please solve this accounting problem

11

Liability Transactions The following items were selected from among the transactions completed by Shin Co. during the current year: Jan. 10. Purchased merchandise on account from Beckham Co., $144,000, terms n/30. Feb. 9. Issued a 30 -day, 6% note for $144,000 to Beckham Co., on account. Mar. 11. Paid Becham Co, the amount owed on the note of February 9. May 1. Borrowed $178,800 from Verity Bank, issuing a 45 -day, 7% note. tune 1. Purchased tools by lssuing a $120,000, 60-day note to Rassmuessen C0., which discounted the note at the rate of 7%. 15. Pald Verity Bank the interest due on the note of May 1 and renewed the loan by issuing a new 45 -day, 7% note for $178,800. Oournalize both the debit and credit to the notes parable account.) July 30. Paid Verity Bank the amount due on the note of June 15. 30. Paid Rassmuessen Co. the amount due on the note of June 1. Dec. 1. Purchased office equipment from Lambert C0. for $132,000, paying $22,000 and issuing a series of ten 5% notes for $11,000 each, coming due at 30 -day intervals. 15. Settled a product liability lawsuit with a customer for $69,000, payable in January. Shin accrued the loss in a litigation claims payable account. 31. Paid the amount due Lambert Co. on the first note in the series issued on December 1. then nemrest doliar amount. Chapter 11 Homework July 30 July 30 Dec. 1 Dec. 15 Dec. 31 49F Sunny Lambert C0, Areme a 360 -tay year, Mlound your as swers to the nearest dollar amouat