Selected transactions of Taylor Company, completed during the fiscal year ended December 31, are as follows: Mar. 1. Purchased merchandise on account from Kelvin Co., $20,000. Q37 Apr. 10. Issued a 60-day, 12% note for $20,000 to Kelvin Co. on account. June 9. Paid Kelvin Co. the amount owed on the note of April 10. Aug. 1. Issued a $50,000, 90-day note to Harold Co. in exchange for a building. Harold Co. discounted the note at 15%. Oct. 30. Paid Harold Co the amount due on the note of August 1. Dec. 27. Journalized the entry to record the biweekly payroll. A summary of the pay- roll record follows: Salary distribution: Sales $63,400 Officers 36,600 Office 10,000 $110,000 Deductions: Social security tax $ 5,050 Medicare tax 1,650 Federal income tax withheld 17,600 State income tax withheld 4,950 Savings bond deductions 850 Medical insurance deductions 1,120 31,220 Net amount $78,780 27. Journalized the entry to record payroll taxes for social security and Medicare from the biweekly payroll. 30. Issued a check in payment of liabilities for employees' federal income tax of $17,600, social security tax of $10,100, and Medicare tax of $3,300. 31. Issued a check for $9,500 to the pension fund trustee to fully fund the pen- sion cost for December. Dec. 31. Journalized an entry to record the employees' accrued vacation pay, $36,100. 31. Journalized an entry to record the estimated accrued product warranty lia- bility, $37,240. Instructions Journalize the preceding transactions