The following transactions of Lexington Marine Supply occurred during 2018 and 2019 (Click the icon to view the transactions) Requirement 1. Record the transactions in the company's journal Explanations are not required (Record debits first, then credits Exclude explanations from any oumal entries Round amounts to the nearest whole dolar) More Info Begin by Journalizing the 2018 transactions, starting with the purchase of equipment on February 3 Feb 3 Purchased equipment for $22.000 signing a six-month, 12% note payable Journal Entry Date Accounts Debit Credat Feb 3, 2018 Equipment 22,000 Notes payable, short-term 22.000 Feb 28. Recorded the week's sales of $72,000, one-third for cash, and two-thirds on account. All sales 2018 Feb 3 Purchased equipment for $22.000, signing a six-month, 12% note payable 28 Recorded the week's sales of $72.000, one-third for cash and two thirds on account. All sales amounts are subject to a 3% sales tax Ignore cost of goods sold Mar 7 Sent last week's sales tax to the state Apr 30 Borrowed $220.000 on a four-year, 6% note payable that calls for annual payment of interest each April 30. Aug 3 Paid the six-month, 12% note at maturity Nov 30 Purchased inventory at a cost of $8,400, signing a three month 6% note payable for that amount Dec 31 Accrued warranty expense, which is estimated at 60% of total sales of $520,000 31 Accrued interest on all outstanding notes payable. Accrued interest for each note separately 2019 28 Paid off the 6% inventory note, plus interest at maturity Apr 30 Paid the interest for one year on the long term note payable Date Credit Journal Entry Accounts Cash Accounts receivable Debit 24720 Feb 28, 2018 Feb Sales revenue Sales tax payable Print Done