The following items were selected from among the transactions completed by Q'Donnel Co. during the current year Jan. 10. Purchased merchandise on account from Laine Co.. $144,000, terms n/30. Feb. 9. Issued a 30-day, 7% note for $144,000 to Laine Co., on account. Mar. 11. Paid Laine Co. the amount owed on the note of February 9. May 1. Borrowed $158,400 from Tabata Bank, issuing a 45-day, 8 % note. June 1. Purchased tools by issuing a $72.000. 60-day note to Gibala Co., which discounted the note at the rate of 6% . 15. Paid Tabata Bank the interest due on the note of May 1 and renewed the loan by issuing a note for $158,400. (Journalize both the debit and credit to the notes payable new 45-day, 7% account.) July 30. Paid Tabata Bank the amount due on the note of June 15. 30. Paid Gibala Co. the amount due on the note of June 1. Dec. 1. Purchased office equipment from Warick Co. for $144,000, paying $24,000 and issuing a series of ten 5% notes for $12,000 each, coming due at 30-day intervals. in January. ODonnel 15. Settled a product liability lawsuit with a customer for $70.000. payable accrued the loss in a litigation claims payable account 31. Paid the amount due Warick Co. on the first note in the series issued on December 1. Required: 1. Journalize the transactions. If an amount box does not require an entry, leave it blank. Assume a 360-day year. Don't round the intermediate calculations and round the final answers to the nearest dollar amount For a compound transaction, accounts should be listed largest to smallest. Credit Debit Account Date Jan. 10 Feb. 2 Mar. 11 May 1 June 1 June 15 July 30 July 30 The following items were selected from among the transactions completed by Q'Donnel Co. during the current year Jan. 10. Purchased merchandise on account from Laine Co.. $144,000, terms n/30. Feb. 9. Issued a 30-day, 7% note for $144,000 to Laine Co., on account. Mar. 11. Paid Laine Co. the amount owed on the note of February 9. May 1. Borrowed $158,400 from Tabata Bank, issuing a 45-day, 8 % note. June 1. Purchased tools by issuing a $72.000. 60-day note to Gibala Co., which discounted the note at the rate of 6% . 15. Paid Tabata Bank the interest due on the note of May 1 and renewed the loan by issuing a note for $158,400. (Journalize both the debit and credit to the notes payable new 45-day, 7% account.) July 30. Paid Tabata Bank the amount due on the note of June 15. 30. Paid Gibala Co. the amount due on the note of June 1. Dec. 1. Purchased office equipment from Warick Co. for $144,000, paying $24,000 and issuing a series of ten 5% notes for $12,000 each, coming due at 30-day intervals. in January. ODonnel 15. Settled a product liability lawsuit with a customer for $70.000. payable accrued the loss in a litigation claims payable account 31. Paid the amount due Warick Co. on the first note in the series issued on December 1. Required: 1. Journalize the transactions. If an amount box does not require an entry, leave it blank. Assume a 360-day year. Don't round the intermediate calculations and round the final answers to the nearest dollar amount For a compound transaction, accounts should be listed largest to smallest. Credit Debit Account Date Jan. 10 Feb. 2 Mar. 11 May 1 June 1 June 15 July 30 July 30