On July 1, 2012, Nakhooda Company purchased a truck for $40,000, paying $10,000 cash and signing a 6% note payable for the remainder. The note's interest and principal are due on January 1, 2013. Prepare the journal entries to record each of the following:

(a) The purchase of the truck on July 1, 2012

(b) The accrual of interest at year end, December 31, 2012, assuming interest has not previously been accrued

(c) Re payment of the interest and the note on January 1, 2013