The following transactions of Smooth Note Musk Company occurred during 2021 and 2022 Click the icon to view the transaction) Requirement 1. Rected the transactions in Smooth Notes pourmal Explanations are not required. Mar 3.2001. Purchased a piano inventory for $60,000, signing a sic-monn, 10% noho payable (Record debiti frat, then crodh Exclude uplarations from jouma entries) Journal Entry Accounts Debit Credit Date 2021 M 3 May 31, 2021 Borrowed 60,000 on a one-year note payable. Journal Entry Date Accounts 2021 May 31 Dabil Credit Sep 3.2021: Paid the month 10% note af maturity Subar con action in Simon Notes formal Explanations are not required Sep 3, 2021: Paid the month, 10% note at maturity Journal Entry Accounts Debit Date 2021 Credit Sep 3 Dec 31, 2021 Accrued warranty expense, which is estimated at 30% of sales of $191,000 Journal Entry Date Accounts Debit Credit 2021 31 Dec Dec 31, 2021 Accreditarest on the outstanding nobe payable Journal Entry Dec 31, 2021: Accrued interest on the outstanding noto payable Journal Entry Accounts Debit Credit Date 2021 Doc 31 May 31, 2022: Paid the outstanding note payable at maturity Journal Entry Date Accounts 2022 MY 31 Debit Credit Tine Limit: sactions in Smooth Notes joumal Explanations are not required Transactions Mar 3, 2021 Horrowed 560,000 on a 5% one-year note payat Journal Entry Accounts May 31, 2021 Sep 3, 2021 Dec 31, 2021 Dec 31, 2021 May 31, 2022 Purchased a piano inventory) for $80,000, signing a six-month, 10% note payable Borrowed $60,000 on a 5% one-year note payable Paid the six-month, 10% noto at maturity. Accrued warranty expense, which is estimated at 3.0% of sales of $191,000 Accrued interest on the outstanding note payable Paid the outstanding note payable at maturity Print Done Paid the month, 10% note at maturity Journal Entry Accounts Debit Credit