Current Attempt in Progress The following are selected transactions of Metlock, Inc.. Metlock prepares financial statements quarterly. Purchased merchandise on account from Nunez Company, $33,600, terms 2/10, n/30. (Metlock uses the perpetual inventory system.) Jan 2 Feb. 1 Issued a 9%, 2-month, $33,600 note to Nunez in payment of account. Mar. 31 Accrued interest for 2 months on Nunez note. Apr. 1 Paid face value and interest on Nunez note. July 1 Sept. 30 Purchased equipment from Marson Equipment paying $12.800 in cash and signing a 10%, 3-month, $67,200 note. Accrued interest for 3 months on Marson note. Oct. 1 Paid face value and interest on Marson note. Dec. 1 Borrowed $36,000 from the Paola Bank by issuing a 3-month, 8% note with a face value of $36,000. Dec. 31 Recognized interest expense for 1 month on Paola Bank note.