Proco had an account payable of $6.600 due to Shemoo Inc. one of its supplers. The amount was due to be paid on January 31 Proce did not have enough cash on hand then to pay the amount due. so Proca's treasurer called Shimoo's treasurer and agreed to sign a note payable for the amount due The note was dated February 1 had an interest rate of 12% per annum, and was payable with eest on May 31. Required Use the horizontal model to show the effects (+ for addition and for subtraction of each of these transactions and adjustments for Proco on the following February 1, to show that the account payable had been changed to a note payable b. March 31, to accrue interest expense for February and March May 31, to record payment of the note and all of the interest due to Shirmoo b. Prepare the journal entres to show each of these transactions and adjustments Complete this question by entering your answers in the tabs below. Use the hortal model to show the effects (for addition and-for subtraction) of each of these transactions and adjustments for Proco on the following: a. February 1, to show that the account payable had been changed to a note payable. March 21, to accrue interest expense for February and Marth May 31, to record payment of the note and all of the interest due to Shirmou. Sheet Category come men Assots Stockholders Equity Not Income Effect Re Expenses Accounts payable 6500 Note payable-600 rest payable +132 Note payable-600 Sequired >>