Q3. Assume that the following transactions of Coldwater Inc. occurred during 2020 and 2021:

2020

• Jan.9 Purchased store fixtures at a cost of $58,000, signing an 8%, six-month note for that amount.
• June 30 Borrowed $200,000 on a 9% note that calls for annual instalment payments of $50,000 principal plus interest. Record the short-term note payable in a separate account from the long-term note payable.
• July9 Paid the six-month, 8% note at maturity.
• Dec. 31 Accrued warranty expense, which is estimated at 3% of sales of $600,000.
• Dec. 31 Accrued interest on the outstanding note payable.

2021

• June 30 Paid the first instalment and interest for one year on the outstanding note payable.

Required:

• Record the transactions for Coldwater Inc. Explanations are not required.