Question
C.S. Sunland Company had the following transactions involving notes payable. July 1, 2025 Nov. 1, 2025 Dec. 31, 2025 Feb. 1, 2026 Apr. 1,
C.S. Sunland Company had the following transactions involving notes payable. July 1, 2025 Nov. 1, 2025 Dec. 31, 2025 Feb. 1, 2026 Apr. 1, 2026 Borrows $55,950 from First National Bank by signing a 9-month, 8% note. Borrows $59,000 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. al entries for each of the transactions. (List all debit entries before credit entries. Credit account titles are automatically amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the ord journal entries in the order presented in the problem.) Account Titles and Explanation Cash Notes Payable Cash Notes Payable 5 Interest Expense 25 Interest Payable (To record accrual of interest from First National Bank) Interest Expense Interest Payable (To record accrual of interest from Lyon County State Bank) Debit 55950 59000 2238 590 Credit 55950 59000 2238 590 Bank) Notes Payable Interest Payable Interest Expense Cash Notes Payable Interest Payable 295 590 59000 1119 I 2238 Interest Expense 55950 Cash 59885 59307
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