Question 2 of 4 -/1 View Policies Current Attempt in Progress 2. 1 Mar. 31 The following are selected transactions of Vaughn Group. Vaughn prepares financial statements quarterly famounts in thousands). Purchased merchandise on account from Nan Company, W40,000, terms 2/10, 1/30. (Vaughn Jan. uses the perpetual Inventory system.) Feb. Issued a 9%, 2-month. W40,000 note to Nan In payment of account. Accrued interest for 2 months on Nan note. Apr. Paid face value and interest on Nan note, July Purchased equipment from Jiyoo Equipment paying W10,500 in cash and signing a 10%, 3-month, W68,400 note. Sept. 30 Accrued interest for 3 months on Ji-yoo note. Oct. Pald face value and interest on Ji-yoo note. Borrowed W27,600 from the Wonju Bank by issuing a 3-month 89 note with a face value of 27.500. Recognized interest expense for 1 month on Wonju Bank note 1 1 Dec. 1 Dec 31 Question 2 of 4 Prepare journal entries for the listed transactions and events. (Credit account titles are automatically Indented when amounts entered. Do not Indent manually. Record Journal entries in the order presented in the problem. I no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Question 2 of 4 -11 III 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 > Interest Payable Activate > Interest Expense > > v V Show the statement of financial position presentation of notes and interest payable at December 31. Vaughn Company Statement of Financial Position (Partial) W w e Textbook and Media What is total interest expense for the year? Total interest w e Textbook and Media List of Accounts Attempts:0 of 2 used Submit Answer Save for Liter Using multiple attempts will impact your score