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C.S. Sunland Company had the following transactions involving notes payable. July 1,2022 Borrows $56,000 from First National Bank by signing a 9-month, 8% note. Nov.

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C.S. Sunland Company had the following transactions involving notes payable. July 1,2022 Borrows $56,000 from First National Bank by signing a 9-month, 8% note. Nov. 1, 2022 Borrows $59,000 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. iry 1.2023 Interest Expense Interest Payable Notes Payable Cash 2023 Interest Expense Interest Payable Notes Parable Cash 295 885 59000 60100 1120 3360 56000

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