Not really sure if I am doing this correctly or not. ATTACHMENT PREVIEW Download attachment Problem 11-2A.docx Problem 11-2A The following are selected transactions of Blanco Company. Blanco prepares financial statements quarterly. Jan. Purchased merchandise on account from Nunez Company, $34,800, terms 2/10, n/30. (Blanco uses the perpetual inventory system.) Feb. 1 Issued a 9%, 2-month, $34,800 note to Nunez in payment of account. Mar. 31 Accrued interest for 2 months on Nunez note. Apr. 1 Paid face value and interest on Nunez note. July Purchased equipment from Marson Equipment paying $12,510 in cash and signing a 10%, 31 month, $63,600 note. Sept. 30 Accrued interest for 3 months on Marson note. Oct. 1 Paid face value and interest on Marson note. Dec. Borrowed $20,400 from the Paola Bank by issuing a 3-month, 8% note with a face value of 1 $20,400. Dec. 31 Recognized interest expense for 1 month on Paola Bank note. 2 Prepare journal entries for the listed transactions and events. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Jan. 2 Account Titles and Explanation Inventory Debit 34800 Accounts Payable Feb. 1 Accounts Payable 34800 34800 Notes Payable Mar. 31 Interest Expense 34800 522 Interest Payable Apr. 1 Notes Payable Interest Payable Cash July 1 Sept. 30 Oct. 1 Dec. 1 Credit 522 34800 522 35322 Dec. 31 Post to the accounts Notes Payable, Interest Payable, and Interest Expense. (Post entries in the order of journal entries presented in the previous part.) Notes Payable Interest Payable Interest Expense Show the balance sheet presentation of notes and interest payable at December 31. Blanco Company Balance Sheet (Partial) December 31 $ $ What is total interest expense for the year? Total interest $ Problem 11-2A Accounts Payable Accounts Receivable Accumulated Depreciation-Equipment Cash Cost of Goods Sold Depreciation Expense Equipment Federal Income Taxes Payable Federal Unemployment Taxes Payable FICA Taxes Payable Health Insurance Payable Insurance Expense Interest Expense Interest Payable Inventory Lawsuit Liability Lawsuit Loss Mortgage Payable Notes Payable Other Operating Expenses Owner’s Capital Payroll Tax Expense Pension Expense Pension Liability Prepaid Insurance Prepaid Rent Rent Revenue Repair Parts Salaries and Wages Expense Salaries and Wages Payable Sales Revenue Sales Taxes Payable Service Revenue State Income Taxes Payable State Unemployment Taxes Payable Subscription Revenue Ticket Revenue U.S. Savings Bonds Payable Unearned Service Revenue Unearned Subscription Revenue Unearned Ticket Revenue Union Dues Payable United Fund Contributions Payable Utilities Payable Vacation Benefits Expense Vacation Benefits Payable Warranty Expense Warranty Liability