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C.S. Lewis Company had the following transactions involving notes payable. July 1, 2014 Borrows $150,000 from Trident National Bank by signing a 9-month, 8% note.
C.S. Lewis Company had the following transactions involving notes payable. July 1, 2014 Borrows $150,000 from Trident National Bank by signing a 9-month, 8% note. Nov. 1, 2014 Borrows $260,000 from Lyon County State Bank by signing a 3-month, 6% note. Dec. 31, 2014 prepares adjusting entries. Feb. 1, 2015 Pays principal and interest to Lyon County State Bank. Apr. 1, 2015 Pays principal and interest to Trident National Bank. . Instructions Prepare journal entries for each of the transactions
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