Requirement 1. Record the transactions in Smooth Sounds' journal. Explanations are not required. Mar 3: Purchased a piano (inventory) for $65,000, signing a six-month, 8% note payable. (Record debits first, then credits. Exclude explanations from journal entries.) Journal Entry Date Accounts Debit Credi 2018 Mar Transactions 2018 Mar May 3 Purchased a piano inventory) for $65,000, signing a six-month, 8% note payable. 31 Borrowed $105,000 on a 6% one-year note payable. 3 Paid the six-month, 8% note at maturity. 31 Accrued warranty expense, which is estimated at 1.5% of sales of $193,000. 31 Accrued interest on the outstanding note payable. Sep Dec 2019 May 31 Paid the outstanding note payable at maturity. Print Done