4) Journal Entries on Notes / Accounts Payable & Interests (14 points) Anton Inc. had the following transactions during the current fiscal year ending December 31st Aug. 015 Anton Inc. borrowed $30,000 from Valley Bank, signing a 90-days, 10,5% Note Payable. Oct. 15th Anton Inc. purchased a truck from Trusty Cars for $15,000. Trusty Cars agreed to accept, as full payment, a 5%, two months Note for the $15,000 invoice amount Nov.0156 Anton Inc. paid Valley Bank the Note Payable plus the accrued interest. Nov. 15th Anton Inc. purchased merchandise (inventory) from Easy Food Corp. for $5,000. Easy Food Corp. accepted a 180-days, 8% Note as full settlement of the purchase. Anton Inc. uses a perpetual inventory system. Dec. 15th The $15,000 Note Payable to Trusty Cars matured today and Anton Inc. paid the accrued interest on this Note and issued a new 60-days, 12% Note Payable in the amount of $15,000 to replace the Note matured. Instruction: (show your calculations and round to 2 decimal places) (a) Prepare Journal Entries to record the above transactions. Use a 360-day year in making the Interest calculations. (b) Prepare the adjusting entry needed at December 31st for the year end closing. Use one entry for all two notes. In total there must be 6 transactions (dates) and the debit/credit entries for the related accounts. Date Account Titles Debit Credit 5