e no change Blanco Company. P11-2A The following are selected transactions of Blanco prepares nce financial statements quarterly from Nunez Compa $30,000, terms Jan. 2 Purchased merchandise on account system.) account. 2/10, the perpetual inventory payment of Feb. 1 Issued a 9%, 2-month, $30,000 note to Nunez in Mar. 31 Accrued interest for 2 months on Nunez note. Apr 1 Paid face value and interest on Nunez note. and July 1 equipment from Marson Equipment paying $11,000 in cash signing a 10%, 3-month, $60,000 note. Sept. 30 Accrued interest for 3 months on Marson note Oct. 1 Paid face value and interest on Marson note Dec. 1 Borrowed $24,000 from the Paola Bank by issuing a 3-month, 8% note with a face value of $24,000. Dec. 31 Recognized interest expense for 1 month on Paola Bank note. e no change Blanco Company. P11-2A The following are selected transactions of Blanco prepares nce financial statements quarterly from Nunez Compa $30,000, terms Jan. 2 Purchased merchandise on account system.) account. 2/10, the perpetual inventory payment of Feb. 1 Issued a 9%, 2-month, $30,000 note to Nunez in Mar. 31 Accrued interest for 2 months on Nunez note. Apr 1 Paid face value and interest on Nunez note. and July 1 equipment from Marson Equipment paying $11,000 in cash signing a 10%, 3-month, $60,000 note. Sept. 30 Accrued interest for 3 months on Marson note Oct. 1 Paid face value and interest on Marson note Dec. 1 Borrowed $24,000 from the Paola Bank by issuing a 3-month, 8% note with a face value of $24,000. Dec. 31 Recognized interest expense for 1 month on Paola Bank