C.S. Lily Company had the following transactions involving notes payable. July 1, 2020 Nov. 1, 2020 Dec. 31, 2020 Feb. 1,2021 Apr. 1, 2021 Borrows $50,000 from First National Bank by signing a 9-month, 8% note. Borrows $60,400 from Lyon County State Bank by signing a 3-month, 6% note. 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. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to decimal places, e.g. 5,275. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit July 1, 2020 Cash 50000 Notes Payable Nov. 1, 2020 Cash 60000 Notes Payable 66 Dec 31, 2020 Interest Expense 2000 Interest Payable (Adjusting entry for First National Bank note.) Interest Expense Dec 31, 2020 600 Interest Payable (Adjusting entry for Lyon County State Bank note.) Feb. 1,2021 v Notes Payable 60000 Interest Payable 600 July 1, 2020 Cash 50000 Notes Payable Nov. 1, 2020 Cash 60000 Notes Payable Dec 31, 2020 Interest Expense 2000 Interest Payable (Adjusting entry for First National Bank note.) Dec 31, 2020 V Interest Expense 600 Interest Payable (Adjusting entry for Lyon County State Bank note.) Feb. 1, 2021 Notes Payable 60000 Interest Payable 600 Interest Expense 300 Cash 66 Apr. 1.2021 Notes Payable 50000 Interest Payable 2000 Interest Expense 1000 Cash 5