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C.S. Vaughn Company had these transactions involving notes payable. July 1.2022 Borrows $50,000 from First National Bank by signing a 9-month, 8% note. Nov, 1,2022

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C.S. Vaughn Company had these transactions involving notes payable. July 1.2022 Borrows $50,000 from First National Bank by signing a 9-month, 8% note. Nov, 1,2022 Borrows $61,800 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. Date Account Tittes and Explanation Debit crs 50,000 (Adjusting entry for First National Bank note.) (Adysting entry for Lyon County State Bank note.) Apr. 1,2023 \& Notes Payable Interest Expemse

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