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The following are selected transactions of Concord Group. Concord prepares financial statements quarterly (amounts in thousands). Jan. 2 Purchased merchandise on account from Nan Company,
The following are selected transactions of Concord Group. Concord prepares financial statements quarterly (amounts in thousands). Jan. 2 Purchased merchandise on account from Nan Company, $34,000, terms 2/10,n/30. (Concord uses the perpetual inventory system.) Feb. 1 Issued a 9%,2-month, W34,000 note to Nan in payment of account. Mar. 31 Accrued interest for 2 months on Nan note. Apr. 1 Paid face value and interest on Nan note. July 1 Purchased equipment from Ji-yoo Equipment paying 10.500 in cash and signing a 10\%, 3-month, 472.000 note. Sept. 30 Accrued interest for 3 months on Ji-yoo note. Oct. 1 Paid face value and interest on Ji-yoo note. Dec. 1 Borrowed w24,000 from the Wonju Bank by issuing a 3-month, 8% note with a face value of w24,000. Dec. 31 Recognized interest expense for 1 month on Wonju Bank note. Prepare journal entries for the listed transactions and events. (Credit account talles are outomaticolly indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry' for
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