Problem 11-2A (Part Level Submission) The following are selected transactions of Blanco Company. Blanco prepares financial statements quarterly. Jan. 2 Feb. 1 Mar. 31 Purchased merchandise on account from Nunez Company, $32,000, terms 3/10, n/30. (Blanco uses the perpetual inventory system.) Issued a 9%, 2-month, $32,000 note to Nunez in payment of account. Accrued interest for 2 months on Nunez note. Paid face value and interest on Nunez note. Purchased equipment from Marson Equipment paying $12,500 in cash and signing a 10%, 3-month, $69,600 note. Accrued interest for 3 months on Marson note. Apr. 1 July 1 Sept. 30 Oct. 1 Paid face value and interest on Marson note. Dec. 1 Borrowed $34,800 from the Paola Bank by issuing a 3-month, 8% note with a face value of $34,800. Recognized interest expense for 1 month on Paola Bank note. Dec. 31 (b) Post to the accounts Notes Payable, Interest Payable, and Interest Expense. (Post entries in the order of journal entries presented in the previous part.) Notes Payable A Interest Payable 4 Interest Expense a (b) Post to the accounts Notes Payable, Interest Payable, and Interest Expense. (Post entries in the order of journal entries presented in the previous part.) Notes Payable 2/1 3/31 4/1 7/1 9/30 10/1 12/1 12/31 12/31 Bal. 4 Interest Payable Interest Expense 4 +