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please help will like comment These are selected transactions of Oriole Company, Oriole prepares financial statements quarterly. Jan. 2 Purchased merchandise on account from Nunez
please help will like comment
These are selected transactions of Oriole Company, Oriole prepares financial statements quarterly. Jan. 2 Purchased merchandise on account from Nunez Company, $30,000, terms 3/10, n/30. (Oriole 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 monthis on Nunez note. Apr. 1 Paid face value and interest on Nunez note. July 1. Purchased equipment from Marson Equipment paying $11,500 in cash and signing a 10%,3-month, 554,000 note. Sept. 30 Accruedinterest for 3 months on Marsonnote. Oct. 1 Paid face value and interest on Marson note. Dec. 1 Borrowed $19,200 from the Paola Bank by issuing a 3-month, 8\% note with a face value of $19,200. Dec. 31 Recognized interest expense for 1 month on Paola Banknote. Date Account Titles and Explanation Debit Credit Step by Step Solution
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