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The current liabilities section of the December 31,2023 , balance sheet of Crane Company included notes payable of $27,000 and interest payable of $540. The note payable was issued to Tanner Com on June 30, 2023. Interest of 4% is payable at maturity, March 31, 2024. The following selected transactions occurred in the year ended December 31, 2024: Jan. 12 Purchased merchandise on account from McCoy Company for $51,600, terms n/30. Crane uses a perpetual inventory system. 31 Issued a $51,600, three-month, 4% note to McC cy Company in payment of its account. Interest is payable monthly. Feb. 29 Paid interest on the McCoy note (see January 31 transaction). Mar. 31 Paid the Tanner note, plus interest. 31 Paid interest on the McCoy note (see January 1 transaction). Apr. 30 Paid the McCoy note, plus one month's interest (see January 31 transaction). Aug. 1 Purchased equipment from Drouin Equipment by paying $24,000 cash and signing a $43,200,10-month, 6% note. Interest is payable at maturity. Sept. 30 Borrowed $166,000 cash from the First Interprovincial Bank by signing a 10 -year, 5% note payable. Interest is payable quarterly on December 31 , March 31 , June 30 , and September the principal, $16,600 must be paid each September 30 . Dec. 31 Paid interest on the First Interprovincial Bank note (see September 30 transaction). Record the transactions and any adjustments required at December 31, 2024. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem.). estion 14 of 15 (Repaid note plus interest.) (Paid interest expense) Show the balance sheet presentation of notes payable and interest payable at December 31, 2024. Show the income statement presentation of interest expense for the year