use terms such as

Cash

Equipment

Interest payable

Notes payable

Interest expense

To journalize this

31. Paid $45,000 to the employee pension plan. The annual pension (Record both the payment and unfunded pension liability. cost is $60,000. Instructions 1. Journalize the transactions. 2. Journalize the following adjusting entries on December 31: a. Salaries accrued: operations salaries, $8,560, officers salaries, $5,600; office salaries, $1,400. The payroll taxes are immaterial and are not accrued. b. Vacation pay, $15,000. lems Series B OBJ. 1,5 PR 10-1B Liability transactions The following items were selected from among the transactions completed by Aston Martin Inc. during the current year: Apr. 15. Borrowed $225,000 from Audi Company, issuing a 30-day, 6% note for that amount. May 1. Purchased equipment by issuing a $320,000, 180-day note to Spyder Manufactur- ing Co., which discounted the note at the rate of 6%, loan by issuing a new 60-day, 8% note for $225,000. (Record both the debit and credit to the notes payable account.) 15. Paid Audi Company the interest due on the note of April 15 and renewed the July 14. Paid Audi Company the amount due on the note of May 15