P10-2A The following are selected transactions of Blanco Company. Blanco prepares nce financial statements quarterly. Jan. 2 Purchased merchandise on account from Nunez Company, $30,000, terms 2/10, n/30. (Blanco uses the perpetual inventory system.) Feb. 1 Issued a 9%, 2-month, $30,000 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 equipment from Marson Equipment paying $11,000 in cash and signing a 10%, 3-month, $60,000 note. Sept. 30 Accrued interest for 3 months on Marson note. Oct. Paid face value and interest on Marson note Dec. 1 Borrowed $24,000 from the Paola Bank by issuing a 3-month, 8% note wi face value of $24,000. a Recognized interest expense for 1 month on Paola Bank note Dec. 31