The following are selected transactions of Blanco Company. Blanco prepares financial statements quarterly.

Jan.	2	Purchased merchandise on account from Nunez Company, $31,200, terms2/10, n/30. (Blanco uses the perpetual inventory system.)
Feb.	1	Issued a9%,2-month, $31,200 note to Nunez in payment of account.
Mar.	31	Accrued interest for2 months on Nunez note.
Apr.	1	Paid face value and interest on Nunez note.
July	1	Purchased equipment from Marson Equipment paying $12,200 in cash and signing a10%,3-month, $68,400 note.
Sept.	30	Accrued interest for3 months on Marson note.
Oct.	1	Paid face value and interest on Marson note.
Dec.	1	Borrowed $27,600 from the Paola Bank by issuing a3-month,8% note with a face value of $27,600.
Dec.	31	Recognized interest expense for1 month on Paola Bank note.

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Prepare journal entries for the listed transactions and events. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Date	Account Titles and Explanation	Debit	Credit
Jan. 2Feb. 1Mar. 31Apr. 1July 1Sept. 30Oct. 1Dec. 1Dec. 31
Jan. 2Feb. 1Mar. 31Apr. 1July 1Sept. 30Oct. 1Dec. 1Dec. 31
Jan. 2Feb. 1Mar. 31Apr. 1July 1Sept. 30Oct. 1Dec. 1Dec. 31
Apr. 1
Jan. 2Feb. 1Mar. 31Apr. 1July 1Sept. 30Oct. 1Dec. 1Dec. 31
Jan. 2Feb. 1Mar. 31Apr. 1July 1Sept. 30Oct. 1Dec. 1Dec. 31
Oct. 1
Jan. 2Feb. 1Mar. 31Apr. 1July 1Sept. 30Oct. 1Dec. 1Dec. 31
Jan. 2Feb. 1Mar. 31Apr. 1July 1Sept. 30Oct. 1Dec. 1Dec. 31

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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
2/13/314/17/19/3010/112/112/3112/31Bal.		2/13/314/17/19/3010/112/112/3112/31Bal.
2/13/314/17/19/3010/112/112/3112/31Bal.		2/13/314/17/19/3010/112/112/3112/31Bal.
2/13/314/17/19/3010/112/112/3112/31Bal.		2/13/314/17/19/3010/112/112/3112/31Bal.
2/13/314/17/19/3010/112/112/3112/31Bal.		2/13/314/17/19/3010/112/112/3112/31Bal.
Interest Payable
2/13/314/17/19/3010/112/112/3112/31Bal.		2/13/314/17/19/3010/112/112/3112/31Bal.
2/13/314/17/19/3010/112/112/3112/31Bal.		2/13/314/17/19/3010/112/112/3112/31Bal.
2/13/314/17/19/3010/112/112/3112/31Bal.		2/13/314/17/19/3010/112/112/3112/31Bal.
2/13/314/17/19/3010/112/112/3112/31Bal.		2/13/314/17/19/3010/112/112/3112/31Bal.
Interest Expense
2/13/314/17/19/3010/112/112/3112/31Bal.		2/13/314/17/19/3010/112/112/3112/31Bal.
2/13/314/17/19/3010/112/112/3112/31Bal.		2/13/314/17/19/3010/112/112/3112/31Bal.
2/13/314/17/19/3010/112/112/3112/31Bal.		2/13/314/17/19/3010/112/112/3112/31Bal.
2/13/314/17/19/3010/112/112/3112/31Bal.		2/13/314/17/19/3010/112/112/3112/31Bal.

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Show the balance sheet presentation of notes and interest payable at December 31.

Blanco Company Balance Sheet (Partial) For the Quarter Ended December 31December 31For the Year Ended December 31
Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders Equity
	$
$

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What is total interest expense for the year?

Total interest

$

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