You will record the following transactions into the retailer's accounting records. The year end of the retailer is June 30. It uses a perpetual inventory system and has an allowance for doubtful notes general ledger account. 1. The retailer purchased equipment on December 1 for $87,500, paying $4,300 cash with the balance owing on account. The equipment is expected to have a useful life of 10 years, a residual value of $2,600, and will be depreciated using the double-diminishing balance method. Don't forget to prepare the year end adjusting entry 2. On January 1, the retailer signed a $83,200 note payable to obtain more time to pay the account owing (see transaction #1). It is a 5-year, 5% blended installment note requiring a semi-annual payment of $9,506 on June 30 and December 31 of each year. 3. On March 1, the retailer sold $6,500 of merchandise to a customer. The cost of the inventory sold was $3,900. The customer signed a 4-month, 7% promissory note to pay the amount owed with accrued interest. 4. The retailer received its annual $9.780 property tax bill on April 30. Catarmanthe later customer did not nav the promissory note (see transaction #4) 5. Four months later, customer did not pay the promissory note (see transaction #4) on June 30. The customer is expected to pay at a later date. 6. The retailer paid employee wages on June 30. Accrued employee salaries were $13,400. Of this amount, $663 is for CPP, $281 for El, $3,216 for employee income taxes. The employer is liable for $663 for CPP and $393 for El. 7. The retailer paid its property tax bill (see transaction #3) on June 30. a) Prepare the journal entries and the year-end adjusting entry related to the above transactions. Calculate to the nearest dollar. b) Present the note payable on the June 30, 2021, classified format balance sheet