During 2002, Kenan Corporation had the following transactions relating to long-term liabilities: Apr. 1 Purchased a machine costing $200,000 from Perry Corporation. Issued a two-year, interest-bearing note with interest payable on April 1 of each year. The note matures on April 1, 2004, and carries an interest rate of 9%. July 1 Borrowed $30,000 from Northern National Bank. The terms of the note require semi- annual payments of interest on December 31 and June 30. The note matures in two years and carries an interest rate of 8%. 1. Prepare the journal entries made on April 1 and July 1 to record the issuance of these two notes. 2. Prepare all journal entries made on December 31, 2002. 3. Prepare all journal entries made during 2003.