The following items were selected from among the transactions completed by Sherwood Co. during the current year Mar 1 Purchased merchandise on account from Kirkwood Co, $372,000, terms n/30. Issued a 30-day, 4% note for $372,000 to Kirkwood Co., on account. Apr. 30 Jun 1 Jul Paid Kirkwood Co. the amount owed on the note of March 31 1 Purchased tools by issuing a $276,000, 60-day note to Poulin Co, which discounted the note at the 16 Borrowed $150,000 from Triple Creek Bank, issuing a 45-day, 8% note. rate of 6%. Paid Triple Creek Bank the interest due on the note of June 1 and renewed the loan by issuing a new 30-day, 6 5% note for $150,000 (Journalize both the debit and credit to the notes payable account) Paid Triple Creek Bank the amount due on the note of July 1e6 Paid Poulin Co. the amount due on the note of July 1 Aug. 15 30 Dec. 1 Purchased equipment from Greenwood Co. for $540.000, paying $108,000 cash and issuing a series of ten 4% notes for $43,200 each, coming due at 30-day intervals. Settled a product liability lawsuit with a customer for $309,500, payable in January Accrued the loss in a litigation claims payable account Paid the amount due to Greenwood Co on the first note in the series issued on December 1 22 31