*Problem 11-2A The following are selected transactions of Blanco Company. Blanco prepares financial statements quarterly Jan. 2 Feb. 1 Mar. 31 Apr. 1 July 1 Sept. 30 Oct. 1 Dec. 1 Dec. 31 Purchased merchandise on account from Nunez Company, 24,000, terms 3/10, n/30. (Blanco uses the perpetual inventory system.) Issued a 9%, 2-month, $24,000 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 $10,500 in cash and signing a 10%, 3-month, $54,000 note Accrued interest for 3 months on Marson note Paid face value and interest on Marson note Borrowed $20,400 from the Paola Bank by issuing a 3-month, 8% note with a face value of $20,400 Recognized interest expense for 1 month on Paola Bank