milo radio shop had the following notes payable transactions ap 358539

Milo Radio Shop had the following notes payable transactions:

Apr. 1 Borrowed $5,000 from Builder’s Bank, signing a 90 day, 8% note.

5 Gave a $2,000, 60 day, 10% note to Breaker Parts Co. for purchase of merchandise.

10 Paid $500 cash and gave a $1,500, 30 day, 12% note to M. K. Reynolds in payment of an account payable.

May 10 Paid $500 cash, plus interest, and issued a new $1,000, 30 day, 14% note to M. K. Reynolds.

20 Borrowed $3,500 for 60 days from Builder’s Bank on a non interest bearing note. The discount rate is 12%.

June 4 Paid $500 cash, plus interest, to Breaker Parts Co. (see April 5) and gave a new $1,500, 30 day, 12% note to extend time for payment.

9 Paid the principal and interest due on the $1,000 note to M. K. Reynolds. (See May 10.)

30 Paid the principal and interest due on the $5,000 note to Builder’s Bank. (See April 1.)

July 4 Paid the principal and interest due on the $1,500 note to Breaker Parts Co. (See June 4.)

19 Paid the $3,500 non interest bearing note to Builder’s Bank. (See May 20.)

REQUIRED

Record the transactions in a general journal.