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The following are selected transactions of Blue Spruce Company

Accounting

The following are selected transactions of Blue Spruce Company. Blue Spruce prepares financial statements quarterly. Jan. 2 Feb. Mar. 1 31 1 Apr. July Purchased merchandise on account from Nunez Company, $24.000, terms 3/10, n/30. (Blue Spruce uses the perpetual inventory system.) Issued a 9%, 2-month, $24,000 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 $13,000 in cash and signing a 10%, 3-month, $48,000 note. Accrued interest for 3 months on Marson note. Paid face value and interest on 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 Bank note. 1 30 Sept. Oct. 1 Dec. 1 Dec. 31
(b) 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 >

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