ACCT 2101 - Exam #5 Problem 1 - Note Payable Transactions You are Peterson Corporation, a company that sells merchandise to customers. Journalize the four transactions below. Assume each year has 360 days and each month has 30 days. You borrowed $54,000 as a short-term loan from Dakota Bank and issued a 90-day, 10% discounted note to the bank. Date Account Debit 1/1 cash Credit note payable 54.000 S4000 5 You issued a 30-day, 12% note for $28,800 to a Platinum Company, a vendor that you owed on account, and have now assumed a short-term interest-bearing loan. Date Account Debit Credit 1/1 Accounts payable. 2 8 8 00 note poyabee 28 800 You repay the note to Platinum Company. Date Account Debit Credit 1/31 note, pagable 123 088 4 interest expense, cash 28 804 2nd A-LOCK ALPHA You repay the note to Dakota Bank TEST MATH Date Account Debit Credit MATRX D SIN X1 3/31 note pouable SS350 SIN | Interest expense 1350 EE Sy DDD 7