Problems (10 points cach) 16. Journal the transactions below. Ignore only interest accrual, 4/1 ABC Company purchased feds from Gate Company own Ignore monthly interest assust, but record all t maturity GOODS PURCHASED SUDO Acrourts PAYABLE 5.000 5/1 ABC Company is issued a note for the pumy is issued a note for the goods purchased on 4/1 to Gates Company in payment on 5.000 account. The terms were 60 In addition, required: What kind of notes this? (Hint: The answer is not short-term or current liability) 0129 ABC borrows funds from Highlights financing Company. The terms are all principle and tnlerest due upon maturity. The face of the note is SS. 100, due in 60 days. ABC Company receives S5,000 in cash. In addition required: What kind of note is this? (Hint: The answer is not short-term or current liability) 6/30 ABC pays the note to Gates Company in full. 8 29 ABC pays the Highlights note in full. Problems (10 points each) 16. Jumal the transactions . Ignore moly ere 41 ABC Company pushed males Company on me pre monthly inc l . bu resor all interest way from Gates Company on GOODS PURCHASED Subo Accounts PALE 5.00 ABC Company is issued before the woods purchased on 1 to Gate Company the .000 account. The terms were 60 days 12 inition, required. What kind of this? (Hint: The answer is not short-term or currentl y ) 0/29 ABC borrows funds from Therms are all principle and interest due upon maturity. The face of the press 100. due in 60 days ABC Company receives $5.000 in cash Indian regime What kind of note is this? (Hint: The answer is not short-term or current liability) 6/30 ABC pays the note to Gates Company in full 829 ABC pays the Highlights note in full