The following transactions of Crazy Craft stores occurred during 2014 and 2015:

2014

Feb 3 Purchased equipment for $11,000, signing a six-month, 8% note payable.

28 Recorded the week’s sales of $93,000, one-third for cash, and two-thirds on account. All sales amounts are subject to a 5% sales tax.

Mar 7 Sent last week’s sales tax to the CRA.

Apr 30 Borrowed $110,000 on a four-year, 10% note payable that calls for annual payment of interest each April 30.

Aug 3 Paid the six-month, 8% note at maturity.

Nov 30 Purchased inventory at a cost of $6,000, signing a three-month, 5% note payable for that amount.

Dec 31 Accrued warranty expense, which is estimated at 4% of total sales of $250,000.

31 Accrued interest on all outstanding notes payable. Accrued interest for each note separately.

2015

Feb 28 Paid off the 5% note, plus interest, at maturity.

Apr 30 Paid the interest for one year on the long-term note payable.

Requirement

Record the transactions in the company’s journal. Explanations are not required.