Question 1 [30 points] Bentley Inc. entered into the following transactions involving short-term liabilities during 2014 and 2015. Prepare journal entries to record these transactions for Bentley Inc. Enter the transaction letter as the description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (i.e., January 15 would be 15/Jan). Round all amounts to the nearest cent. a. May 3: Borrowed $29,000 from Royal Bank by signing a 8%, 60-day note. b. ? Paid the note to Royal Bank at maturity. c. August 13 : Signed a $32,000, 9%, 60-day note with Scotia Bank. d. ? : The note to Scotia Bank was paid at maturity. e. October 30: Bentley Inc. purchased merchandise on credit from Weber Inc., terms 2/20, n/60, $30,000. f. December 29: Weber Inc. was paid $17,000 cash and the remaining balance of $13,000 was replaced with a 30-day, 12% note. g. December 31 : An adjusting entry of the accrual of interest on the note to Weber Inc. was recorded. ? : The note to Weber Inc. was paid at maturity, h. General Journal Account/Explanation Date Page Gj1 F Debit Credit + = + Date Account/Explanation F Debit Credit + + - + + =