The following transactions of Smooth Sounds Music Company occurred during 2017 and 2018:
2017
Mar. 3 Purchased a Steinway piano (inventory) for $40,000, signing a six-month, 5% note.
Apr. 30 Borrowed $50,000 on a 9% note payable that calls for annual installment payments of $25,000 principal plus interest. Record the short-term note payable in a separate account from the long-term note payable.
Sept. 3 Paid the six-month, 5% note at maturity.
Dec. 31 Accrued warranty expense, which is estimated at 2% of sales of $190,000.
31 Accrued interest on the outstanding note payable.
2018
Apr. 30 Paid the first installment plus interest for one year on the outstanding note payable.
Requirement
Record the transactions in Smooth Sounds's journal. Explanations are not required?