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(11). Waleed Company had the following transactions involving notes payable. | Aug. 1, 2020| Dec. 1, 2020 Dec. 31, 2020 1 | March 1,

(11). Waleed Company had the following transactions involving notes payable. | Aug. 1, 2020| Dec. 1, 2020 Dec. 31, 2020 1 | March 1, 2021 May 1, 2021 L Borrows $200,000 from National Bank of Oman by signing a 9-month, 12% note. Borrows $120,000 from Dhofar Bank by signing a 3-month, 10% note. Prepares adjusting entries. Pays principal and interest to Dhofar Bank. Pays principal and interest to National Bank of Oman. Instructions Prepare journal entries for each of the transactions.

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