PR 11-1A Liability transactions s completed by Pionr tas v",rhe tirm?r.re wkxt1 d imm ank,ng the transactio terms n . pr Pad Galston Co the mount owed on he ote of Manch M June Ekrn med S|N,000 from Pilati lunk, issuing 15da. 1% note. Puchae ols by isuing 10.0o0, 60-day note to Zegna Co. which discounted the note at the rate of July 6 Paid Plati Bank the interst due on the note o June and renewed he lan b?ssu'ng a new 30-da$. 6 5% note tor $180.000 Journali,e hoth the de-hit and credit to the notes payable account. Aug 15 P?,d Pilat? Bank the amount due on the note of July 16 0. Paid Zegna Co. the amount due on the note of July 1 Dec. 1. Purchased oftice equipment from T lor Co. for $500.000, paying $120,000 and issuing a series of ten 6% notes for $38,000 each, coming due at-0-day inten als January. Pioneer accrued the loss in a litigation claims paable account December 1 22 Sertled a product liblty lat with a customer for S310,000, payable in 31. Paid the amount due Taylor Co. on the first note in the series issued on Instructions 1. Journalize the transactions. 2. Journalize the adjusting entry for each of the folowing accrued expenses at the end of the current year: a. Product warranty cost. $27,500 b. Interest on the nine remaining notes owed to Taylor Co. PR 11-1A Liability transactions s completed by Pionr tas v",rhe tirm?r.re wkxt1 d imm ank,ng the transactio terms n . pr Pad Galston Co the mount owed on he ote of Manch M June Ekrn med S|N,000 from Pilati lunk, issuing 15da. 1% note. Puchae ols by isuing 10.0o0, 60-day note to Zegna Co. which discounted the note at the rate of July 6 Paid Plati Bank the interst due on the note o June and renewed he lan b?ssu'ng a new 30-da$. 6 5% note tor $180.000 Journali,e hoth the de-hit and credit to the notes payable account. Aug 15 P?,d Pilat? Bank the amount due on the note of July 16 0. Paid Zegna Co. the amount due on the note of July 1 Dec. 1. Purchased oftice equipment from T lor Co. for $500.000, paying $120,000 and issuing a series of ten 6% notes for $38,000 each, coming due at-0-day inten als January. Pioneer accrued the loss in a litigation claims paable account December 1 22 Sertled a product liblty lat with a customer for S310,000, payable in 31. Paid the amount due Taylor Co. on the first note in the series issued on Instructions 1. Journalize the transactions. 2. Journalize the adjusting entry for each of the folowing accrued expenses at the end of the current year: a. Product warranty cost. $27,500 b. Interest on the nine remaining notes owed to Taylor Co