1. Prepare journal entries for the transactions noted below 2.Post the above entries to the Notes Payable, Interest Payable, and Interest Expense accounts. 3. Show the balance sheet presentation of notes payable and interest payable at December 31.

Problem 10-2A Swifty Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. During the last part of 2017, Swifty had the following transactions related to notes payable Sept. issued a $13,200 note to Pippen to purchase inventory. The 3-month note payable bears interest of 9% and is due December 1, (Swifty uses a perpetual inventory system.) Recorded accrued interest for the Pippen note Issued a $22,800 9% 4-month note to Prime Bank to finance the purchase of a new climbing wall or advanced climbers. The note i Recorded accrued interest for the Pippen note and the Prime Bank note Issued a $24,000 note and paid $7,600 cash to purchase a vehicle to transport clients to nearby climbing sites as part of a new series of climbing classes. This note bears Sept. 30 Oct. 1 Oct. due February Nov. 1 interest of 6% and matures in 12 months. Nov 30 Dec. 1 Dec. 31 Recorded accrued interest for the Pippen note, the Prime Bank note, and the vehicle note Paid principal and interest on the Pippen note. Recorded accrued interest for the Prime Bank note and the vehicle