The following are selected transactions of Wildhorse Company. Wildhorse prepares financial statements quarterly.
Jan. Purchased merchandise on account from Nunez Company, $ terms Wildhorse uses the perpetual inventory system.
Feb. Issued a month, $ note to Nunez in payment of account.
Mar. Accrued interest for months on Nunez note.
Apr. Paid face value and interest on Nunez note.
July Purchased equipment from Marson Equipment, paying $ in cash and signing a month, $ note.
Sept. Accrued interest for months on Marson note.
Oct. Paid face value and interest on Marson note.
Dec. Borrowed $ from the Paola Bank by issuing a month, note with a face value of $
Dec. Recognized interest expense for month on Paola Bank note.
Post to the accounts notes payable,interest payable,interest expense.
