Richmond Company engaged in the following transactions: a. Purchased $20,000 of supplies from ABC Supplies on February 16. Amount due in full on March 31. b. Paid for 25% of the purchased merchandise (transaction a) on February 26. c. On March 31, negotiated a payment extension with ABC for the remainder of the balance from the February 16 purchase by signing a 1-year, 10% note. d. Borrowed $300,000 on a 10-month, 8% interest-bearing note on April 30 . e. Purchased $78,000 of merchandise on June 4 . Amount due in full on June 30 . f. Paid for the purchased merchandise (transaction e) on June 24. g. Received from Haywood, Inc., on August 19 a $24,000 deposit against a total selling price of $240,000 for services to be performed for Haywood. h. Paid quarterly installments of Social Security and Medicare and individual income tax withholdings, as shown below, on October 15. The Social Security and Medicare were previously recorded as expenses during the quarter and the amounts paid represent both the employee and employer shares (50\% each): i. On December 15, Richmond completed the services ordered by Haywood on August 19. Haywood's remaining balance of $216,000 is due on January 31 . a. Feb. Supplies 20,000 16 Accounts Payable 20,000 (Record purchase of supplies on account) b. Feb. Accounts Payable 6,250 26 Cash (Record partial payment of supplier) C. Mar. Accounts Payable 13,750 31 Notes Payable 13,750 (Record issuance of note to cover unpaid portion of account payable) d. Apr. Cash 300,000 30 Accounts Payable X 2. Prepare any adjusting entries necessary at December 31. If an amount box does not require an entry, leave it blank. Dec. 31 (Record accrued interest)