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(7). C.S. Lewis Company had the following transactions involving notes payable. July 1, 2014 Borrows $150,000 from Trident National Bank by signing a 9-month, 8%

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(7). C.S. Lewis Company had the following transactions involving notes payable. July 1, 2014 Borrows $150,000 from Trident National Bank by signing a 9-month, 8% note. Nov. 1, 2014 Borrows $260,000 from Lyon County State Bank by signing a 3-month, 6% note. Dec. 31, 2014 Prepares adjusting entries. Feb 1, 2015 Pays principal and interest to Lyon County State Bank Apr. 1, 2015 Pays principal and interest to Trident National Bank

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