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Q2 The following data were taken from the records of Zainab Chocolate Factory for the year ended December 31, 2019. Jan2. Purchased merchandise on account

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Q2 The following data were taken from the records of Zainab Chocolate Factory for the year ended December 31, 2019. Jan2. Purchased merchandise on account from LaBella Co., $180,000 terms 2/10, n/30. Feb1 Issued a 6%, 2 month, $180,000 note in payment of account. Mar31 Accrued interest for 2 months on LaBella Co. note. Aprl Paid face value and interest on LaBella Co note. July! Purchased equipment from Sur Electronics paying $65,000 in cash and signing a 9%, 3 month, $240,000 note. Sept.30 Accrued interest for 3 months on Sur Electronic note. Oct.1 Paid face value and interest on Sur Electronic note. Dec.1 Borrowed $250,000 from the Dhofar Bank by issuing a 3 month, 12% interest bearing note with a face value of $250,000 Dec. 31 Recognized interest expense for 1 month on Dhofar Bank note. Dec. 31 Zainab Chocolate Co. does not segregate sales and sales taxes separately in its register. On Dec. 31 the register is $117,700, which includes a 7% sales taxes. Q2 The following data were taken from the records of Zainab Chocolate Factory for the year ended December 31, 2019. Jan2. Purchased merchandise on account from LaBella Co., $180,000 terms 2/10, n/30. Feb1 Issued a 6%, 2 month, $180,000 note in payment of account. Mar31 Accrued interest for 2 months on LaBella Co. note. Aprl Paid face value and interest on LaBella Co note. July! Purchased equipment from Sur Electronics paying $65,000 in cash and signing a 9%, 3 month, $240,000 note. Sept.30 Accrued interest for 3 months on Sur Electronic note. Oct.1 Paid face value and interest on Sur Electronic note. Dec.1 Borrowed $250,000 from the Dhofar Bank by issuing a 3 month, 12% interest bearing note with a face value of $250,000 Dec. 31 Recognized interest expense for 1 month on Dhofar Bank note. Dec. 31 Zainab Chocolate Co. does not segregate sales and sales taxes separately in its register. On Dec. 31 the register is $117,700, which includes a 7% sales taxes

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