P11-2A The following are selected transactions of Blanco Company. Blanco prepares 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. in cash and July 1 Purchased equipment from M Equipment paying $11,000 signing a 10%, 3-month, $60,000 note. Sept. 30 interest for 3 months on M note. Oct. 1 Paid face value and interest on Marson note. 3-month, 8% note with a Dec. 1 Borrowed $24,000 from the Paola Bank by issuing a face value of $24,000. note. Dec. 31 Recognized interest expense for 1 month on Paola Bank