Apr. 8 Issued a $5.000. 60-day, six percent note payable in payment of an account with Bennett Company May 15 Borrowed $40.000 from Lincoln Bank, signing a 60-day note at nine percent. Jun. 7 Pald Bennett Company the principal and interest due on the April 8 note payable. Jul. 6 Purchased $12,000 of merchandise from Bolton Company: signed a 90-day note with ten percent interest. Jul. 14 Paid the May 15 note due Lincoln Bank. Oct. 2 Borrowed $30,000 from Lincoln Bank, signing a 120-day note at 12 percent. Oct. 4 Defaulted on the note payable to Bolton Company Required a. Record these transactions in general journal form. b. Record any adjusting entries for interest in general journal form. Logan Company has a December 31 year-end. Round answers to nearest dollar. Use 360 days for interest calculations. General Journal Description Debit Credit Date Apr.8 Issued a 60-day, 6 percent note payable in payment of an account payable. May 15 Borrowed from bank for 60 days at 9 percent. Jun.7 Interest Expense Paid note payable to Bennett Company. Jul.6 Purchased merchandise and issued a note payablewith interest at 10 percent for 90 days. Jul. 14 Interest Expense Paid note payable to Lincoln Bank, Oct 2 Borrowed from bank for 120 days at 12 percent. Oct.4 Interest Expense Defaulted on note payable. General Journal Description Debit Credit Date Dec.31 To record interest on the October 2 note payable to Lincoln Bank