The following transactions of Philadelphia Marine Supply occurred during 2018 and 2019 : Click the icon to view the transactions.) Requirement Begin by journalizing the 2018 transactions, starting with the purchase of equipment on February 3. Feb 3: Purchased equipment for $9,000, signing a six-month, 6% note payable. Aug 3: Paid the six-month, 6% note at maturity. Nov 30: Purchased inventory at a cost of $6,800, signing a three-month, 12% note payable for that a .Inurnal Fntrv Dec 31: Accrued warranty expense, which is estimated at 6.0% of total sales of $730,000. Dec 31: Accrued interest on all outstanding notes payable. Accrued interest for each note separately. Start by accruing interest on the $120,000, four-year, 9% note from April 30 . Now accrue interest at December 31 on the $6,800, three-month, 12% note from November 30 . 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