S Proco had an account payable of $4,800 due to Shirmoo Inc., one of its suppliers. The amount was due to be paid on January 31. Proco did not have enough cash on hand then to pay the amount due, so Proco's treasurer called Shirmoo's treasurer and agreed to sign a note payable for the amount due. The note was dated February 1, had an interest rate of 9% per annum, and was payable with interest on May 31. Required: a. Use the horizontal model to show the effects (+ for addition and for subtraction) of each of these transactions and adjustments for Proco on the following: a. February 1, to show that the account payable had been changed to a note payable. b. March 31, to accrue interest expense for February and March. c. May 31, to record payment of the note and all of the interest due to Shirmoo. b. Prepare the journal entries to show each of these transactions and adjustments. Required A Required B by entering your answers in the tabs below. Use the horizontal model to show the effects (+ for addition and - for subtraction) of each of these transactions and adjustments for Proco on the following: a. February 1, to show that the account payable had been changed to a note payable. b. March 31, to accrue interest expense for February and March. c. May 31, to record payment of the note and all of the interest due to Shirmoo. Balance Sheet Category Transaction/ Adjustment Assets Liabilities a b C Income Statement Stockholders' Equity Net Income Effect Revenues Expenses Required B > Complete this question by entering your answers in the tabs below. Required A Required B Prepare the journal entries to show each of these transactions and adjustments. (If no entry is required for a transactio "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 February 1, to show that the account payable had been changed to a note payable. Note: Enter debits before credits. Transaction a General Journal Debit Credit Record entry Clear entry Required A View general journal Journal entry worksheet > 2 3 March 31, to accrue interest expense for February and March. Note: Enter debits before credits. Transaction b General Journal Debit Credit Record entry Clear entry Journal entry worksheet