The following transactions of Penny and Dime 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 journal entries. Round amounts to the nearest whole Begin by journaling the 2018 transactions, starting with the purchase of equipment on February 3 Feb 3. Purchased equipment for $6,000, signing a six-month note payable Journal Entry Date Accounts Debit Credit Feb 3, 2018 Equipment Nolos payable, short-term Feb 28: Recorded the wook's sales of $60,000, one-third for cash, and two-thirds on account. All sales amounts are subject to a 3 sales tax. Ignore cost of goods sold. Debit Credit Journal Entry Accounts Cash Accounts receivable Feb 28, 2018 Sales revenue Sales tax payable Mar 7: Sant last week's sales tax to the state. Journal Entry Date Accounts Choose from any list or enter any number in the input fields and then continue to the next question y curred dunng 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 fr Sales tax payable Mar 7: Sent last week's sales tax to the state. Debit Credit Date Mar 7, 2018 Journal Entry Accounts Sales tax payable Cash Apr 30: Borrowed $240,000 on a four-year, 5% note payable that calls for annual payment of interest each April 30. Journal Entry Date Accounts Debit Credit Apr 30, 2018 Cash Notes payable, long-term Aug 3: Paid the six-month, 4% note at maturity. Journal Entry Date Accounts Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question. The O wly disacions of Penny and Dime 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 Aug 3: Paid the six-month, 4% note at maturity. Journal Entry Date Accounts Aug 3, 2018 Notes payable, short-term Interest expense Debit Credit Nov 30: Purchased inventory at a cost of $6,800, signing a three-month, 12% note payable for that amount. Journal Entry Date Accounts Debit Credit Nov 30, 2018 Inventory Notes payable, short-term Dec 31: Accrued warranty expense, which is estimated at 6.0% of total sales of $800,000. Journal Entry Date Accounts Debit Credit 24 n o Warranty ornance Choose from any list or enter any number in the input fields and then continue to the next question Requirement 1. Record the transactions in the company's journal. Explanations are not required. (Record debits first, then credits. Exclude explanati Dec 31: Accrued warranty expense, which is estimated at 6.0% of total sales of $800,000. Journal Entry Date Accounts Debit Credit Dec 31, 2018 Warranty expense Estimated warranty payable Dec 31: Accrued interest on all outstanding notes payable. Accrued interest for each note separately. Start by accruing interest on the $240,000, four-year, 5% note from April 30. Journal Entry Date Accounts Debit Dec 31, 2018 Interest expense Interest payable Credit Now accrue interest at December 31 on the S6,800, three-month, 12% note from November 30. Journal Entry Accounts Date Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question. The following transactions of Penny and Dime Marine Supply occurred during 2018 and 2019 i (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 an Now accrue interest at December 31 on the $6,800, three-month, 12% note from November 30. Journal Entry Date Accounts Debit Credit Dec 31, 2018 Interest expense E S Interest payable Next, record the 2019 transactions, beginning with repayment of the 12% inventory note. Feb 28: Paid off the 12% inventory note, plus interest, at maturity. Journal Entry Accounts Date Debit Credit Feb 28, 2019 Interest payable Interest expense Notes payable, short-term Cash Apr 30: Paid the interest for one year on the long-term note payable. Journal Entry Accounts Debit Credit Date Choose from any list or enter any number in the input fields and then continue to the next question Save for Later HOTUyuired. (Record debits first, then credits. Exclude explanat Dec 31, 2018 Interest expense Interest payable Next, record the 2019 transactions, beginning with repayment of the 12% inventory note. Feb 28: Paid off the 12% inventory note, plus interest, at maturity. Journal Entry Date Accounts Debit Credit Feb 28, 2019 Interest payable Interest expense Notes payable, short-term Cash Debit 1 Credit Apr 30: Paid the interest for one year on the long-term note payable. Journal Entry Date Accounts Apr 30, 2019 Interest expense Interest payable Cash Choose from any list or enter any number in the input fields and then continue to the next question, Save for Later