Question 1 [30 points] Velor Inc. entered into the following transactions involving short-term liabilities during 2014 and 2015. Prepare journal entries to record these transactions for Velor 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. April 24: Signed a $39,000, 12%, 30-day note with TD Bank. b. ? The note to TD Bank was paid at maturity. c. September 10: Velor Inc. purchased merchandise on credit from XYZ Corporation, terms 2/10, n/90, $26,000. d. September 26: Borrowed $26,000 from Scotia Bank by signing a 11%, 30-day note. e. ?Paid the note to Scotia Bank at maturity. f. December 9: Gave XYZ Corporation $14,000 cash and a $12,000, 30-day, 9% note to secure an extension on the past-due account. g. December 31: An adjusting entry of the accrual of interest on the note to XYZ Corporation was recorded. h. Paid the note to XYZ Corporation at maturity. General Journal Date Account/Explanation F Debit Page GJ1 Credit