A select list of transactions of Namely Company are listed below:

DateTransaction Description

3/1/2022Issued a $40,000 note to Lake Company in exchange for a machine. Lake discounted the note at 9%. The note is due on October 1, 2022.

9/1/2022Purchased merchandise on account from Aspen Co., $12,000.

10/1/2022Paid Lake Company the amount due on the note of March 1.

11/1/2022Issued a 3-month, 12% note for $12,000 to Aspen Co. on account.

12/31/2022Accrued interest on the Aspen Co. note.

2/1/2023Paid Aspen Co. the amount owed on the note of November 1.

Required:

Prepare journal entries (journal entry descriptions NOT required) for Namely Company to record the transactions above.If necessary, round all figures to whole dollars. Namelys fiscal year end is December 31st.