The following transactions of Smooth Notes Music Company occurred during 2018 and 2019: Click the icon to view the transactions.) Requirement 1. Record the transactions in Smooth Notes' journal. Explanations are not required Mar 3: Purchased a plan (inventory for $75,000, signing a sx month, 4% note payable. Record debits st, then credits. Exclude explanations from journal entries. Journal Entry Date Debit Credit Accounts 2018 Mar May 31: Borrowed $114,000 on an 8% one-year note payable. Journal Entry Debit Credit Date Accounts 2018 May31 Sep 3: Paid the six-month, 4% note at maturity Journal Entry Debit Date Credit Accounts 2018 Sep Journal Entry Credit Debit Accounts Date 2018 31 Dec Dec 31: Accrued interest on the outstanding note payable. Journal Entry Credit Debit Accounts Date 2018 31 Dec May 31: Paid the outstanding note payable at maturity. Journal Entry Credit Date Debit Accounts 2019 May 31 Transactions 1 2018 Mar 3 Purchased a piano (inventory) for $75,000, signing a six-month, 4% note payable. 31 May Sep Dec Borrowed $114,000 on an 8% one-year note payable. 3 Paid the six-month, 4% note at maturity. 31 Accrued warranty expense, which is estimated at 2.5% of sales of $200,000. 31 Accrued interest on the outstanding note payable 2019 May 31 Paid the outstanding note payable at maturity Print Done