These are selected transactions of Sheffield Company. Sheffield prepares financial statements quarterly. Jan. 2 Purchased merchandise on account from Nunez Company, $41,000, terms 3/10,n/30. (Sheffield uses the perpetual inventory system.) Feb. 1 Issued a 9\%, 2-month, $41,000 note to Nunez in payment of account. Mar. 31 Accrued interest for 2 months on Nunez note. Apr. 1 Paid face value and interest on Nunez note. July 1 Purchased equipment from Marson Equipment paying $13,000 in cash and signing a 10\%, 3-month, \$52,800 note. Sept. 30 Accrued interest for 3 months on Marson note. Oct. 1 Paid face value and interest on Marson note. Dec. 1 Borrowed $21,600 from the Paola Bank by issuing a 3-month, 8% note with a face value of $21,600. Dec. 31 Recognized interest expense for 1 month on Paola Bank note. Prepare journal entries for the listed transactions and events. (Credit cccount titles are quitomatically Indented when amount/s entered. Do not indent manually. Record joumal entries in the order presented in the problem. Cash Equipment Cash Notes Payable Interest Expense Interest Payable Notes Payable Oct. 1 Notes Payabie Sept. 30 Interest Expense 1320 Interest Payable 1320 Notes Payable Interest Payable Cash Dec 1 Cash Notes Payable Dec. 31 Interest Expense Interest Payable 21600 144 Post to the accounts Notes Payable, Interest Payable, and Interest Expense. (Post entries In the order of joumal entries presented the previous part.) Show the balance sheet presentation of notes and interest payable at December 31. What is total interest expense for the year