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3) Newtowne Furniture Gallery issued two notes payable during 2023. Pertinent data on these notes are shown below: In addition to the above two notes,

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3) Newtowne Furniture Gallery issued two notes payable during 2023. Pertinent data on these notes are shown below: In addition to the above two notes, Newtowne Furniture Gallery gave a $50,000,8%,180-day note to the First City Bank on September 2, 2023 for a cash loan. Prepare adjusting entries on December 31, 2023, for the above three notes

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