Required: 1. Journalize the transactions, Refore the Chart of Accounts for exact wording of account ates. Assume a 360-day year round you answers to the nearest dolar 2. Journal de adsongene for each of the following accrederentes at the end of the current year be the Chart of Accounts for cact wording of account Product anycost on the main owed to renwood Co Amaya The following items were selected from among the transactions completed by Sherwood Co. during the current year Mar 1 Purchased merchandise on account from Kirkwood Co. $414,000 terms 1/30 31 issued a 30-day,4% note for $414,000 to Kirkwood Co, on account Apr 30 Paid Kirkwood Co the amount owed on the note of March 31 Jun 1 Borrowed 5180,000 from Triple Creek Bank, issuing a 45-day, 4% note Jul 1 Purchased tools by issuing a $228,000, 60-day not to Poulin Co which discounted me note at me rate of 6% Paid Triple Creek Bank the interest due on the note of June 1 and renewed the loan by issuing a new 30-day, 659 note for $180.000 Coumalize both the debit and credit to the notes payable account) Aug Pald Triple Creek Bank the amount due on the note of July 16. Dhe mention that JOJO 16 rate of 6% 16 Aug 15 30 Dec 2 Paid Triple Creek Bank the interest due on the note of June 1 and renewed the loan by issuing a new 30-day 6.5% note for $180,000. (Journalize both the debit and credit to the notes payable account) Paid Triple Creek Baric the amount due on the note of Jay 16 Paid Poulin Co the amount ose on the note of July 1 Purchased equipment rom Greenwood Co. for $520,000, paying $90,000 cash and issuing a series often es notes for $43,000 each, coming due at 30 day inovas Settled a product bity wsuit with a customer for $325.000, payable in January Accrued the loss in a litigation claims payable account Paid the amount due to Greenwood Co on the role in the series issued on December 1 22 11 Required: 2. Journalize the adjusting entry for each of the following accrued expenses at the end of the current year prefer to the Chair of Accounts for exact wording of accountles) A Product warranty cost $25.500. Best on the nine remaining asowe o Greenwood Co. Assume a 360-day mar WE JOURNAL ACCOUNTING EQUATION DATE OST DET CHEN BIT Aunting ATS Les UITY