Problem 8-73A (Algorithmic) Payable Transactions Richmond Company engaged in the following transactions during 2019: a. Purchased $16,000 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. con March 31 negotiated a payment extension with Ac for the remainder of the balance from the February 16 purchase by signing at year, 10% note d. Borrowed $300,000 ont month, interest-bearing note on April 30 Purchased $75,000 of merchandise on June 4. Amount due in full on June 30 1. Paid for the purchased merchandise transaction e) on June 24 g. Received from Haywood, Inc., on August 19 a $20,000 deposit against a total selling price of $210,000 for services to be performed for Haywood hPad quarterly installments of Social Security and Medicare and individual income tax withholdings, as shown below, on October 15. The social security and Medicare were previously recorded at expenses during the quarter and the amounts paid represent both the employee and employer shares (50 cach) Social Security taxes withheld $105,000 Medicare tres withheld 43.266 Federal income taxes withheld 319,000 on December 15. Richmond completed the services ordered by Haywood on August 19. Haywood's remaining balance of $109,000 i due on Banuary 31 Required: 1. Prepare journal entries for these transactions. If an amount box does not require an entry leave it bank a. Feb. 16 Record purchase of supplies on account eBook Calculator C. Mar. 31 (Record issuance of note to cover unpaid portion of account payable) d. Apr. 30 . (Record issuance of note) I e. June 4 (Record purchase of inventory on account) f. June 24 (Record payment of supplier) 9. Aug. 19 (Record receipt of deposit for services not yet performed) h Oct 15 h. Oct. 15 III III DIDIT 100 I (Record employer payroll taxes) 1. Dec. 15 (Record recognition of revenue) 2. Prepare any adjusting entries necessary at December 31, 2019. Dec. 31 (Record accrued interest)