Accounts Payable and Notes Payable Logan Company had the following transactions: April 8 Issued a $4,800 , 75day, 8% note payable in payment of an account with Bennett Company. May 15 Borrowed $36,000 from Lincoln Bank, signing a 60day note at 9% . June 22 Paid Bennett Company the principal and interest due on the April 8 note payable. July 6 Purchased $12,000 of merchandise from Bolton Company; signed a 90-day note with 10% interest. July 14 Paid the May 15 note due Lincoln Bank. October 2 Borrowed $24,000 from Lincoln Bank, signing a 120day note at 12% percent. October 4 Defaulted on the note payable to Bolton Company.Bolton intends to pursue collection. a. Determine the financial statement effect of the above transactions. Round interest