Transactions 2017 Mar. Apr. 3 Purchased a Steinway piano (inventory) for $41,500, signing a six-month, 10% note. 30 Borrowed $50,000 on a 15% note payable that calls for annual installment payments of $25,000 principal plus interest. Record the short-term note payable in a separate account from the long-term note payable. 3 Paid the six-month, 10% note at maturity. 31 Accrued warranty expense, which is estimated at 5.5% of sales of $196,000. 31 Accrued interest on the outstanding note payable. Sept. Dec. 2018 Apr. 30 Paid the first installment plus interest for one year on the outstanding note payable. Print Print Done Done The following transactions of Bassoon Music Company occurred during 2017 and 2018: B (Click the icon to view the transactions.) Requirement Record the transactions in Bassoon's journal. Explanations are not required. Requirement. Record the transactions in Bassoon's journal. (Record debits first, then credits. Explanations are not required.) Purchased a Steinway piano (inventory) for $41,500, signing a six-month, 10% note. Journal Entry Date Accounts Debit Credit 2017 Mar. 3 Borrowed $50,000 on a 15% note payable that calls for annual installment payments of $25,000 principal plus interest. Record the short-term note payable in a separate account from the long-term note payable. Journal Entry Date Accounts Debit Credit 2017 Apr. 30 Requirement. Record the transactions in Bassoon's journal. (Record debits first, then credits. Explanations are not required.) Purchased a Steinway piano (inventory) for $41,500, signing a six-month, 10% note. Journal Entry Accounts Date L Debit redit 2017 Mar. 3 Accounts Receivable nstallment payments of $25,000 principal plus interest. Record the short-term note payable in a separate account from the lon Cash Estimated Warranty Payable Borrowed $50,0 Interest Expense Interest Payable Inventory Date Notes Payable, Long-term 2017 Notes Payable, Short-term Apr. 30 Sales Revenue Warranty Expense Debit Credit Paid the six-month, 10% note at maturity. (Hold all decimals for interim calculations. Round your final answer to the nearest whole number.) Journal Entry Accounts Date Debit Credit 2017 Sept. Accrued warranty expense, which is estimated at 5.5% of sales of $196,000. Journal Entry Accounts Debit Credit Date 2017 Dec. | 31 Accrued interest on the outstanding note payable. (Hold all decimals for interim calculations. Round your final answer to the nearest whole number.) Journal Entry Date Accounts Debit Credit 2017 | Dec. 31 Paid the first installment plus interest for one year on the outstanding note payable. (Hold all decimals for interim calculations. Round your final answer to the nearest whole number.) Journal Entry Accounts Debit | Credit Date 2017 Apr. 30