FIN ACC 557 P11-2A The following are selected transactions of Winsky CompanyAxia

FIN ACC 557 P11-2A The following are selected transactions
of Winsky CompanyAxia College of University of Phoenix (UoP)Accounting PrinciplesFinancial Accounting: Weygandt Kieso and Kimmel 5th
EditionP11-2A The following are selected transactions of Winsky
Company. Winsky prepares financial statements quarterly. Jan. 2 Purchased
merchandise on account from Yokum Company $30000 terms 2/10 n/30. Feb. 1
Issued a 9% 2-month $30000 note to Yokum in payment of account. Mar. 31
Accrued interest for 2 months on Yokum note. Apr. 1 Paid face value and
interest on Yokum note. July 1 Purchased equipment from Korsak Equipment paying
$11000 in cash and signing a 10% 3-month $40000 note. Sept. 30 Accrued
interest for 3 months on Korsak note. Oct. 1 Paid face value and interest on
Korsak note. Dec. 1 Borrowed $15000 from the Otago Bank by issuing a 3-month
8% interest-bearing note with a face value of $15000. Dec. 31 Recognized
interest expense for 1 month on Otago Bank note.a) Prepare journal entries for the above transactions and
events.b) Post to the accounts Notes Pay Interest Pay and
Interest Exp.