Current Attempt in Progress The current liabilities section of the December 31, 2020, balance sheet of Blossom Company included notes payable of $15,000 and interest payable of $450. The note payable was issued to Tanner Company on June 30, 2020. Interest of 6% is payable at maturity March 31, 2021 The following selected transactions occurred in the year ended December 31, 2021 Jan 12 12 31 Feb 28 Mar 31 Purchased merchandise on account from McCoy Company for $27,000, terms n/30. Blossom uses a perpetual inventory system. Issued a $27,000, three-month, 6% note to McCoy Company in payment of its account. Interest is payable monthly Paid interest on the McCoy note (see January 31 transaction Paid the Tanner note, plus interest. 31 Paid interest on the McCoy note (see January 31 transaction). Apr 30 Aug 1 Sept. 30 Dec. 31 Paid the McCoy note, plus one month's Interest (see January 31 transaction). Purchased equipment from Drouin Equipment by paying $12,000 cash and signing a $31,200, 10-month, 6% note Interest is payable at maturity Borrowed $110,000 cash from the First Interprovincial Bank by signing a 10-year, 6% note payable. Interest is payable quarterly on December 31, March 31, June 30, and September 30. Of the principal, $11,000 must be paid each September 30 Paid interest on the First Interprovincial Bank note (see September 30 transaction) Record the transactions and any adjustments required at December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) Date Jan. 12 Account Titles and Explanation Merchandise Inventory Debit Credit 27000 Accounts Payable Jan. 31 Accounts Payable 27000 Notes Payable Feb. 28 < Interest Expense 135 Cash Mar. 31 Notes Payable Interest Payable Interest Expense Mar. 31 Cash (To record payment of Tanner note and Interest) Interest Expense Cash (To record payment of interest on the McCoy note) 15000 450 225 135 27 27 22 15 (To record payment of interest on the McCoy note) Apr. 30 Notes Payable Interest Expense Cash Aug. 1 Equipment Cash Notes Payable Sept. 30 v Cash Notes Payable (Borrowed cash and signed a note.) Dec. 31 V Interest Expense Cash (Paid interest expense.) Dec. 31 Cash Notes Payable (Accrued interest expense.) 27000 135 43200 110000 1650 11000 26 26 12 31 110 1 11 Show the balance sheet pre BLOSSOM COMPANY (Partial) Balance Sheet December 31, 2021 Current Liabilities Notes Payable Interest Payable Current Portion of Long-term Notes Payable eTextbook and Media List of Accounts < Show the income statement presentation of interest expense for the year. BLOSSOM COMPANY (Partial) Income Statement Year Ended December 31, 20211 Operating Expenses Interest Expense 2280 31200 11000