Chapter 10 13 PROBLEM 11-3 Instructions: Prepare the general journal entries to record the following transactions. (Omit explanations.) (1) Audrey Newman issued a 90-day, 12% note for $2,000 to Mayday Co. for a $2,000 overdue account. (2) Newman paid the note in (1) at maturity (3) Paula Wheat borrowed $8,000 from the bank and gave the bank a 90-day 11% note. yee Net (4) Wheat paid the note in (3) at maturity (5) Randy Lucky borrowed $6,000 from the bank, giving a 60-day, non-interest- bearing note that was discounted at 9%. Lucky paid the note recorded in (5) at maturity. (6) PAGE JOURNAL POST REF DEBIT CREDIT DATE DESCRIPTION