Question: On March 1st,2022, JP Company borrowed $120,000 from bank by signing a one-year 4% note. The principal \& interest has to be paid at the maturity of the note on March 1, 2023. The necessary adjusting entry was made at the end of 2022 in regard to the interest. On March 1st of 2023 (the maturity date of the note). JP Company paid the bank for both the principal and the interest. Provide journal entry that JP Company must make to record the payment on March 1st, 2023 , the note's maturity date. Answer = Question: JP Purchased $4,000 supplies - paid $3,000 in cash and the rest was on account. Answer = The following is list of accounts each represented by letter(s). Where each box represents a journal entry line. In first box, G denotes Cash account, 3000 is the amount, D stands for debit. In second box: B denotes Accounts Receivable account, 2000 is the amount, D stands for debit. And in third box: GG denotes Service Revenues, 5000 is the amount, and C stands for credit. The letters are in capital. Don't use dollar sign, decimal point, comma, or space in any place. If in an entry requires more than one debit or credit accounts, first enter debit accounts (in order of dollar amount - large amount to small amount), then the credit accounts (in order of dollar amount - large amount to small amount). Question: Company sold 2000 units of XOM for $20 per unit plus 8% sales taxes to Polo Company in cash. Sales tax was not included in the price. Each unit of XOM had cost company $12.50. Company is using Perpetual Inventory System. Provide journal entry to record the transaction. Where each box represents a journal entry line. In first box, G denotes Cash account, 3000 is the amount, D stands for debit. In second box: B denotes Accounts Receivable account, 2000 is the amount, D stands for debit. And in third box: GG denotes Service Revenues, 5000 is the amount, and C stands for credit. The letters are in capital. Don't use dollar sign, decimal point, comma, or space in any place. If in an entry requires more than one debit or credit accounts, first enter debit accounts (in order of dollar amount - large amount to small amount), then the credit accounts (in order of dollar amount - large amount to small amount). Question: JP Company paid $40,000 for salaries and wages for the month. Applicable federal income tax rate is 20%, state income tax rate is 6%, FICA tax rate is 7.65%. Federal Unemployment Taxes 0.80\%; State Unemployment Taxes 5.40\%. Provide a composite journal entry to record this payroll payment