The following were among this year’s transactions of Baker Company, which uses a periodic inventory system.

Jan. 8 Bought merchandise on account from Long Company, $ 5,550; terms 3/10, n/30.

18 Paid Long Company for the invoice of January 8.

Feb. 14 Bought merchandise on account from Reyes Company, $ 2,500; terms net 30 days.

Mar. 16 Gave a 45-day, 6 percent note, dated March 16, for $ 2,500 to Reyes Company to apply on account.

Apr. 30 Paid Reyes Company the amount owed on the note of March 16.

May 24 Borrowed $ 10,000 from Kelly National Bank, giving a 90-day, 5.75 percent note, dated May 24, for that amount (received full face value).

Aug. 22 Paid Kelly National Bank the amount due on the note of May 24.

Required

Record these transactions in the general journal (page 47).