The following are selected transactions of Blanco Company. Blanco prepares financial statements quarterly. Jan. 2Purchased merchandise on account from Nunez Company, $34,800, terms 3/10, n/30. (Blanco uses the perpetual inventory system.)
Feb. 1Issued a 9%, 2-month, $34,800 note to Nunez in payment of account.
Mar. 31Accrued interest for 2 months on Nunez note.
Apr. 1Paid face value and interest on Nunez note.
July 1Purchased equipment from Marson Equipment paying $11,400 in cash and signing a 10%, 3-month, $52,800 note.
Sept. 30Accrued interest for 3 months on Marson note.
Oct. 1Paid face value and interest on Marson note.
Dec. 1Borrowed $21,600 from the Paola Bank by issuing a 3-month, 8% note with a face value of $21,600.
Dec. 31Recognized interest expense for 1 month on Paola Bank note.
Required:
1. Prepare journal entries for the list of transactions and events.
2. Post to the accounts; notes payable, interest payable, and interest expense.
3. Show the balance sheet presentation of notes and interest payable at December 31.

Adog whistle manufacturer's factory was located near a residential area. the manufacturer used the most effective methods for testing its whistles, but it was impossible to completely soundproof the testing area. a breeder of champion show dogs bought some property near the factory and raised and trained her dogs there. although the whistles were too high-pitched to be perceived by human ears, they could be heard by the breeder's dogs. consequently, the dogs often were in a constant state of agitation. in a suit by the breeder against the manufacturer, what is the likely outcome? response - correct a the breeder will prevail on a trespass theory, because the sound waves are entering onto the breeder's property. b the breeder will prevail on a nuisance theory, because the sound of the whistles is a substantial interference with the breeder's use of her land. c the breeder will not prevail, because the sound of the whistles is not a substantial interference with the breeder's use of her land. d the breeder will not prevail, because the manufacturer has acted reasonably in testing its whistles.