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using the following pictures can someone find the journal entries, interest expense, intrest payable, current liabilities and total interest expense? The following are selected transactions
using the following pictures can someone find the journal entries, interest expense, intrest payable, current liabilities and total interest expense?
The following are selected transactions of Sunland Company. Sunland prepares financial statements quarterly. Jan. 2 Feb. 1 Mar. 31 1 Purchased merchandise on account from Nunez Company, $25,000, terms 2/10.n/30. (Sunland uses the perpetual inventory system.) Issued a 9%, 2-month $25,000 note to Nunez in payment of account. Accrued interest for 2 months on Nunez note. Paid face value and interest on Nunez note. Purchased equipment from Marson Equipment paying $12,000 in cash and signing a 10%, 3-month, $49,200 note. Accrued interest for 3 months on Marson note. Paid face value and intereston Marson note. Borrowed $24,000 from the Paola Bank by issuing a 3-month, 8% note with a face value of $24,000. Recognized interest expense for 1 month on Paola Banknote. Apr. July Sept. Oct. 1 30 1 Dec. 1 Dec 31 (a) 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. 2 Feb 1 Mar 31Step by Step Solution
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