Problem 1 Wishbone Multimedia had the following note payable transactions for 2015 and 2016 . June 1 , 2015 - purchased equipment costing $18, 000 by issuing a one - year , 8%/ note payable* General Journal Account Name Debit Credit July 7, 2015 - needing more time to pay , a $ 2. 000 accounts payable to Lone Star Videos a 90 day , 12 %/0 note was issued . General Journal Account Name* Debit Credit Oct . 5. 2015 - paid the note plus the interest at maturity* General Journal Account Name* Debit Credit