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Question 1 Blossom Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. During the last part of 2022, Blossom had the following transactions related to notes payable. Sept. 1 Sept. 30 Oct. 1 Oct. 31 Nov. 1 Issued a $16,800 note to Pippen to purchase inventory. The 3-month note payable bears interest of 8% and is due December 1. (Blossom uses a perpetual inventory system.) Recorded accrued interest for the Pippen note. Issued a $21,600, 9%, 4-month note to Prime Bank to finance the purchase of a new climbing wall for advanced climbers. The note is due February 1. Recorded accrued interest for the Pippen note and the Prime Bank note. Issued a $26,400 note and paid $8,800 cash to purchase a vehicle to 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. Recorded accrued interest for the Pippen note, the Prime Bank note, and the vehicle note. Paid principal and interest on the Pippen note. Recorded accrued interest for the Prime Bank note and the vehicle note. Nov. 30 Dec. 1 Dec. 31 48000 Interest Expense 9/30 112 12/1 336 10/31 274 11/30 428 Dulu 12/31 316 12/31 Bal. 794 Interest Payable 9/30 112 10/31 274 JUHUL 11/30 428 12/31 794 12/31 Bal. v 1130 Show the balance sheet presentation of notes payable and interest payable at December 31. BLOSSOM CORPORATION Balance Sheet (Partial) December 31, 2022 Current Liabilities Notes Payable 48000 X Interest Payable 956

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