Please answer Part B only. Part A\'s answer is attached. Marigold Corporation se

Question

Please answer Part B only. Part A's answer is attached.

Marigold Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. During the last part of 2017, Marigold had the following transactions related to notes payable. Issued a $15,600 note to Pippen to purchase inventory. The 3-month Sept. 1 note payable bears interest of 8% and is due December 1, (Mangold uses a perpetual inventory system.) Sept. 30 Oct. 1 of a new climbing wall for advanced climbers. The note is due February 1 Oct. 31 note Nov. 1 transport clients to nearby climbing sites as part of a new series of climbing classes. This note bears interest of 7% and matures in 12 months. Nov. 30 and the vehicle note. Dec. 1 Dec. 31 note Recorded accrued interest for the Pippen note. issued a $19,200, 896, 4-month note to Prime Bank to finance the purchase Recorded accrued interest for the Pippen note and the Prime Bank Issued a $25,200 note and paid $8,100 cash to purchase a vehicle to Recorded accrued interest for the Pippen note, the Prime Bank note Paid principal and interest on the Pippen note. Recorded accrued interest for the Prime Bank note and the vehicle Collapse question part Prepare journal entries for the transactions noted above. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Explanation / Answer

B. Notes payable

Interest expense

Interest payable:

Dec 1 $15,600 Sep 1 $15,600 Oct 1 $19,200 Nov 1 $25,200 Dec 31 Bal 44,400

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