Please record the transactions in the company’s journal within the Excel sheet attached. Explanations are not required.

The following transactions of My Dollar stores occurred during 2006 and 2007:

**2006**

Feb 3 – Purchased equipment for $10,000, signing a six-month, 9% note payable

Feb 28 – Recorded the week’s sales of $51,000, one-third for cash, and two-thirds on account. All sales amounts are subject to a 5% sales tax.

Mar 7 – Sent last week’s sales tax to the state

Apr 30 – Borrowed $100,000 on a four-year, 9% note payable that calls for annual payment of interest each April 30

Aug 3 – Paid the six-month, 9% note at maturity

Nov 30 – Purchased inventory at a cost of $7,200, signing a three-month, 8% note payable for that amount

Dec 31 – Accrued a warranty expense, estimated at 3% of total sales of $260,000

Dec 31 – Accrued interest on all outstanding notes payable. Accrued interest for each note separately.

**2007**

Feb 28 – Paid off the 8% inventory note, plus interest, at maturity

Apr 30 – Paid the interest for one year on the long-term note payable

TASK:

Please record the transactions in the company’s journal within the Excel sheet attached. Explanations are not required.

Please record the transactions in the company’s journal within the Excel sheet attached. Explanations are not required.