July 1, 2022 Borrows $50,500 from First National Bank by signing a 9-month, 8% note. Nov....
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July 1, 2022 Borrows $50,500 from First National Bank by signing a 9-month, 8% note. Nov. 1, 2022 Dec. 31, 2022 Feb. 1.2023 Apr. 1, 2023 Borrows $60,600 from Lyon County State Bank by signing a 3-month, 6% note. Prepares adjusting entries. Pays principal and interest to Lyon County State Bank. Pays principal and interest to First National Bank. Prepare journal entries for each of the transactions. (Credit account titles are automatically indented Do not indent manually. Record journal entries in the order presented in the proflem July 1, 2022 Borrows $50,500 from First National Bank by signing a 9-month, 8% note. Nov. 1, 2022 Dec. 31, 2022 Feb. 1.2023 Apr. 1, 2023 Borrows $60,600 from Lyon County State Bank by signing a 3-month, 6% note. Prepares adjusting entries. Pays principal and interest to Lyon County State Bank. Pays principal and interest to First National Bank. Prepare journal entries for each of the transactions. (Credit account titles are automatically indented Do not indent manually. Record journal entries in the order presented in the proflem
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