Problem 10-2A

ACCT 2301 TDO16 (05/14/18-07T06/18) online/ Lesson 10/Chapter10 Graded Homework Problem 10-2A The following are selected transactions of Blanco Company. Blanco prepares financial statements quarterly Jan. Purchased merchandise on account from Nunez Company, $26,400, terms 2/10, n/30. (Blanco uses the perpetual inventory system.) Feb. 1 Issued a 9%,2-month. $26,400 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 , Purchased equipment from Marson Equipment paying $11,900 ash and signing a 10%, 3. month, $52,800 note Sept.30 Acorued interest for 3 months on Marson note. Oct. i Paid face value and interest on Marson note Borrowed $21,600 from the Paola Bank by issuing a 3-month, 8% note with a face value of L$21,600 Dec. 1 Dec. 31 Recognized interest expense for 1 month on Paola Bank note. Prepare journal entries for the listed transactions and events. (Credit account titles are automatically indented when amount is entered. Do not indent manualy. Record journal entries in the order presented in the problem) Account Titles and Explanation Date Debi Credit IC Apr. 1 Oct. 1