C$.$S$.$ Concord Company had these transactions involving notes payable.

July $1,2022$ Borrows $$54,500$ from First National Bank by signing a $9-$month, $8\%$ note.

Nov. $1,2022$ Borrows $$60,600$ from Lyon County State Bank by signing a $3-$month, $6\%$ note.

Dec. $31,2022$ Prepares adjusting entries.

Feb. $1,2023$ Pays principal and interest to Lyon County State Bank.

Apr. $1,2023$ Pays principal and interest to First National Bank.

Prepare journal entries for each of the transactions. $($Credit account titles are automatically indented when amount is entered. Do not indent

manually. Record journal entries in the order presented in the problem.$)$Date

Account Titles and Explanation

Debit

Credit

$($Adjusting entry for First National Bank note.$)$

$($Adjusting entry for Lyon County State Bank note.$)$

$|$

$1$

$1$