The following is list of accounts each represented by letter(s). Example of Answer: Where each box represents a journal entry line. In first box, G denotes Cash account, 3000 is the amount, D stands for debit. In second box: B denotes Accounts Receivable account, 2000 is the amount, D stands for debit. And in third box: GG denotes Service Revenues, 5000 is the amount, and C stands for credit. The letters are in capital. Don't use dollar sign, decimal point, comma, or space in any place. If in an entry requires more than one debit or credit accounts, first enter debit accounts (in order of dollar amount - large amount to small amount), then the credit accounts (in order of dollar amount - large amount to small amount). Question: On March 1st,2022, JP Company borrowed $120,000 from bank by signing a one-year 4% note. The principal \& interest has to be paid at the maturity of the note on March 1, 2023. The necessary adjusting entry was made at the end of 2022 in regard to the interest. On March 1st of 2023 (the maturity date of the note), JP Company paid the bank for both the principal and the interest. Provide journal entry that JP Company must make to record the payment on March 1st, 2023, the note's maturity date. Answer = Example of Answer: G3000D B2000D GG5000C Where each box represents a journal entry line. In first box, G denotes Cash account, 3000 is the amount, D stands for debit. In second box: B denotes Accounts Receivable account, 2000 is the amount, D stands for debit. And in third box: GG denotes Service Revenues, 5000 is the amount, and C stands for credit. The letters are in capital. Don't use dollar sign, decimal point, comma, or space in any place. If in an entry requires more than one debit or credit accounts, first enter debit accounts (in order of dollar amount - large amount to small amount), then the credit accounts (in order of dollar amount - large amount to small amount). Question: JP Company paid $40,000 for salaries and wages for the month. Applicable federal income tax rate is 20%, state income tax rate is 6%, FICA tax rate is 7.65%, Federal Unemployment Taxes 0.80% : State Unemployment Taxes 5.40%. Provide a composite journal entry to record this payroll payment