Consider the following notes payable transactions of Custom Video Productions.

Journalize the transactions for the company.

Employee: OASDI: 6.2% on first \($147,000\) earned; Medicare: 1.45% up to \($200,000,\) 2.35% on earnings above \($200,000.
Employer:\) OASDI: 6.2% on first \($147,000\) earned; Medicare: 1.45%; FUTA: 0.6% on first \($7,000\) earned; SUTA: 5.4% on first \($7,000\) earned.

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2024 May 1 Purchased equipment costing $17,000 by issuing a one-year, 6% notes payable. Dec. 31 Accrued interest on the notes payable. 2025 May 1 Paid the notes payable plus interest at maturity.