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4 Blossom Company had the following transactions involving notes payable. July 1, 2022 Nov. 1,2022 Dec. 31, 2022 Feb. 1, 2023 Apr. 1, 2023 Prepare
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Blossom Company had the following transactions involving notes payable. July 1, 2022 Nov. 1,2022 Dec. 31, 2022 Feb. 1, 2023 Apr. 1, 2023 Prepare journal entries for each of the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Notes Payable Date Borrows $61,000 from First National Bank by signing a 9-month, 8% note. Borrows $73,200 from Lyon County State Bank by signing a 3-month, 6% note. Prepares annual adjusting entries. Pays principal and interest to Lyon County State Bank. Pays principal and interest to First National Bank. July 1, 2022 November 1, 2022 December 31, 2022: Notes Payable Notes Payable Notes Payable Debit Credi Question 4 of 12 November 1, 2022 December 31, 2022: December 31, 2022: February 1, 2023 April 1, 2023 : pour Notes Payable: Notes Payable (To record adjusting entry for First National Bank note) (To record adjusting entry for Lyon County State Bank note) Interest Payable 1000000000001 10 00 February 1, 2023 April 1, 2023 (To record adjusting entry for Lyon County State Bank note) Interest Payable |||| Step by Step Solution
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