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C . S . Pharoah Company had the following transactions involving notes payable. July 1 , 2 0 2 5 Borrows $ 4 6 ,

C.S. Pharoah Company had the following transactions involving notes payable.
July 1,2025
Borrows $46,950 from First National Bank by signing a 9-month, 8% note.
Nov. 1,2025
Borrows $50,000 from Lyon County State Bank by signing a 3-month, 6% note.
Dec. 31,2025
Feb. 1,2026
Apr. 1,2026
Prepares adjusting entries.
Pays principal and interest to Lyon County State Bank.
Pays principal and interest to First National Bank.
Prepare journal entries for each of the transactions. (List all debit entries before credit entries. 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. Record journal entries in the order presented in the problem.)
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