These are selected transactions of Sheridan Company. Sheridan prepares financial statements quarterly. Jan. 2 Purchased merchandise on account from Nunez Company, $22,000, terms 3/10, n/30. (Sherida uses the perpetual inventory system.) Feb. 1 Issued a 9%, 2-month, $22,000 note to Nunez in payment of account. Mar. 31 Accrued interest for 2 months on Nunez note. Apr. July 1 1 Paid face value and interest on Nunez note. Purchased equipment from Marson Equipment paying $11,000 in cash and signing a 10%, 3-mont Sept. 30 Accrued interest for 3 months on Marson note. Oct. 1 Paid face value and interest on Marson note. Dec. 1 Borrowed $18,000 from the Paola Bank by issuing a 3-month, 8% note with a face value of $18,000 Dec. 31 Recognized interest expense for 1 month on Paola Bank note. 88F Mostly sunny 99+