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C.S. Wildhorse Company had the following transactions involving notes payable. July 1, 2025 Borrows $97,950 from First National Bank by signing a 9-month, 8% note.
C.S. Wildhorse Company had the following transactions involving notes payable.
July 1, 2025 |
Borrows $97,950 from First National Bank by signing a 9-month, 8% note.
|
Nov. 1, 2025 |
Borrows $101,000 from Lyon County State Bank by signing a 3-month, 6% note.
|
Dec. 31, 2025 | Prepares adjusting entries. |
Feb. 1, 2026 | Pays principal and interest to Lyon County State Bank.
|
Apr. 1, 2026 | Pays principal and interest to First National Bank. |
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