Question

PLease answer the last three journal enteries

The following transactions of My Tunes Music Company occurred during 2018 and 2019 1 (Click the icon to view the transactions.) 1. Record the transactions in My Tunes' journal. Explanations are not required. Date Accounts Debit Credit 2018 Dec 31 6850 d Warranty Payable 6860 Transactions Dec 31: Accrued interest on the outstanding note payable. 2018 Mar Journal Ent 3 Purchased a piano (inventory) for $55,000, signing a six-month, 896 note payable. Borrowed $78,000 on a 6% one-year note payable Date Accounts Debit Credit May Sep Dec 31 2018 3 Paid the six-month 8% note at maturity 31 31 Dec Accrued warranty expense which is estimated at 3.5% of sales of $196,000 Accrued interest on the outstanding note payable Interest Payable 2019 May 31 Paid the outstanding note payable at maturity May 31: Paid the outstanding note payable at maturity Print Done Journal Entry Date Accounts Debit Credit 2019 May 31 Notes Payable, Short-Term 55000 Interest Payable Interest Expense

Answer 1

Date	Accounts				Debit	Credit
31-Dec	Warranty expense				6860
	Accrued warranty payable					6,860
31-Dec	interest expense				2730
	interest payable					2,730
	(78000*6%*7/12)
2019
31-May	Notes payable,short term				78,000
	interest payable				2,730
	interest expense				1950
	cash					82,680