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Liability transactions

The following items were selected from among the transactions completed by Sherwood Co$.$ during the current year:

Date Transaction

Feb. $15.$ Purchased merchandise on account from Kirkwood Co$.,$ $$144,000,$ terms n$/30.$

Mar. $17.$ Issued a $60-$day, $7\%$ note for $$144,000$ to Kirkwood Co$.,$ on account.

May $16.$ Paid Kirkwood Co$.$ the amount owed on the note of March $17.$

June $15.$ Borrowed $$164,400$ from Triple Creek Bank, issuing a $60-$day, $8\%$ note.

July $21.$ Purchased tools by issuing a $$87,000,90-$day note to Poulin Co$.,$ which discounted the note at the rate of $8\%.$

Aug. $14.$ Paid Triple Creek Bank the interest due on the note of June $15$ and renewed the loan by issuing a new $60-$day, $10\%$ note for $$164,400.($Journalize both the debit and credit to the notes payable account.$)$

Oct. $13.$ Paid Triple Creek Bank the amount due on the note of August $14.$

Oct. $19.$ Paid Poulin Co$.$ the amount due on the note of July $21.$

Dec. $1.$ Purchased equipment from Greenwood Co$.$ for $$144,000,$ paying $$24,000$ cash and issuing a series of ten $6\%$ notes for $$12,000$ each, coming due at $30-$day intervals.

Dec. $12.$ Settled a product liability lawsuit with a customer for $$80,000,$ payable in January. Accrued the loss in a litigation claims payable account.

Dec. $31.$ Paid the amount due to Greenwood Co$.$ on the first note in the series issued on December $1.$

Required:

$1.$ Journalize the transactions. If an amount box does not require an entry, leave it blank. Assume a $360-$day year. Do not round intermediate calculations. When required, round your final answers to one decimal places.

Date Account Debit Credit

Feb. $15$

fill in the blank $2$

fill in the blank $3$

fill in the blank $5$

fill in the blank $6$

Mar. $17$

fill in the blank $8$

fill in the blank $9$

fill in the blank $11$

fill in the blank $12$

May $16$

fill in the blank $14$

fill in the blank $15$

fill in the blank $17$

fill in the blank $18$

fill in the blank $20$

fill in the blank $21$

June $15$

fill in the blank $23$

fill in the blank $24$

fill in the blank $26$

fill in the blank $27$

July $21$

fill in the blank $29$

fill in the blank $30$

fill in the blank $32$

fill in the blank $33$

fill in the blank $35$

fill in the blank $36$

Aug. $14$

fill in the blank $38$

fill in the blank $39$

fill in the blank $41$

fill in the blank $42$

fill in the blank $44$

fill in the blank $45$

fill in the blank $47$

fill in the blank $48$

Oct. $13$

fill in the blank $50$

fill in the blank $51$

fill in the blank $53$

fill in the blank $54$

fill in the blank $56$

fill in the blank $57$

Oct. $19$

fill in the blank $59$

fill in the blank $60$

fill in the blank $62$

fill in the blank $63$

Dec. $1$

fill in the blank $65$

fill in the blank $66$

fill in the blank $68$

fill in the blank $69$

fill in the blank $71$

fill in the blank $72$

Dec. $12$

fill in the blank $74$

fill in the blank $75$

fill in the blank $77$

fill in the blank $78$

Dec. $31$

fill in the blank $80$

fill in the blank $81$

fill in the blank $83$

fill in the blank $84$

fill in the blank $86$

fill in the blank $87$

$2.$ Journalize the adjusting entry for each of the following accrued expenses at the end of the current year: $($a$)$ product warranty cost, $$17,200$; $($b$)$ interest on the nine remaining notes owed to Greenwood Co$.$

Item Account Debit Credit

a$.$

fill in the blank $89$

fill in the blank $90$

fill in the blank $92$

fill in the blank $93$

b$.$

fill in the blank $95$

fill in the blank $96$

fill in the blank $98$

fill in the blank $99$