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Problem 10-2A Grouper Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. During the last part of 2017, Grouper had the following transactions related to notes payable Issued a $15,600 note to Pippen to purchase inventory. The 3-month note payable bears interest of 7% and is due December 1. (Grouper uses a perpetual inventory system.) Sept. 1 Sept. 30 Oct. 1 Oct. 31 Nov. 1 Recorded accrued interest for the Pippen note Issued a $22,800, 10%, 4-month note to Prime Bank to finance the purchase of a new climbing wall for advanced climbers. The note is due February 1. Recorded accrued interest for the Pippen note and the Prime Bank note. Issued a $30,000 note and paid $9 300 cash to purchase a vehicle to transport clients to nearby climbing sites as part of a new series o cimbing classes. This note bears interest of 8% and matures in 12 months. Recorded accrued interest for the Pippen note, the Prime Bank note, and the vehicle note Paid principal and interest on the Pippen note. Recorded accrued interest for the Prime Bank note and the vehicle note. Nov. 30 Dec. 1 Dec. 31 Prepare journal entries for the transactions noted above. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Sept. 1 Inventory 15600 Notes Payable Interest Expense Interest Payable 15600 Sept. 30 Oct. 1 Equipment Notes Payable Interest Expense Interest Payable Oct. 31 Nov. 1 Equipment Notes Payable Cash Nov. 30 Interest Expense Interest Payable Dec.1 Notes Payable Interest Payable Cash Dec. 31 Interest Expense Interest Payable Notes Payable Interest Expense Interest Payable Show the balance sheet presentation of notes payable and interest payable at December 31 GROUPER CORPORATION Balance Sheet (Partial) December 31, 2017 Current Liabilities Notes Payable Interest Payable SHOW LIST OF ACCOUNTS LINK TO TEXTLINK TO TEXT How much interest expense relating to notes payable did Grouper incur during the year? Interest expense incurred during the year Click if you would like to Show Work for this question: Open Show Work