The following are selected transactions of Christianson Company, which prepares financial statements quarterly:

Jan. 2 Purchased merchandise on account from Thompson Company, \(\$ 25,000\) terms \(2 / 10, \mathrm{n} / 30\).

Feb. 1 Issued a \(10 \%, 2\)-month, \(\$ 25,000\) note to Thompson in payment of account.

Mar. 31 Accrued interest for 2 months on Thompson note.

Apr. 1 Paid face value and interest on Thompson note.

July 1 Purchased equipment from Billie Equipment, paying \(\$ 24,000\) in cash and signing a \(9 \%\), 3 -month, \(\$ 44,000\) note.

Sept. 30 Accrued interest for 3 months on Billie note.

Oct. 1 Paid face value and interest on Billie note.

Dec. 1 Borrowed \(\$ 20,000\) from Shoreline Bank by issuing a 3 -month, \(11 \%\) interestbearing note with a face value of \(\$ 20,000\).

31 Recognized interest expense for 1 month on Shoreline Bank note.

\section*{Instructions}

(a) Prepare journal entries for the transactions and events.

(b) Post to the accounts Notes Payable, Interest Payable, and Interest Expense. (Use \(\mathrm{T}\) accounts.)

(c) Show the balance sheet presentation of notes payable and interest payable at December 31 .

(d) What is the total interest expense for the year?