Question

Problem 10-2A The following are selected transactions of Blanco Company. Blanco prepares financial statements quarterly an. 2 Purchased merchandize on account from Nunez Company, $28,800, terms 3/10, n/20. (Blanco uses the perpetual inventory aystem.) Feb. 1 Issued a 9%, 2-month, 528.800 note to Nunez in payment of account. Mar. 31 Accrued interast for 2 months on Nunez note Apr. 1 Paid face value and interest on Nunez note July 1 purchased equipment from Marson Equipment paying $12,300 in cash and signing a 10%, 3-month, $60,000 note. Sept.30 Accrued interest for 3 months on Marson note. Oct. 1 Paid face valua and interest on Marson noto Dec. 1 Borrowed $34,800 from the Paola Bank by issuing a 3-month, 8% note with a face value of $34,800. Dac. 31 Recognizad intarast axpanse for 1 month on Paola Bank nota Propare journal antrias for tha listad transactions and avants. (Crodit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Apr. 1 Oct. 1



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