During 2024, Pearl Co, borrowed cash from Pronghorn Company by issuing notes payable as follows: 1. June 1,2024, issued an eight-month, 7% note for $86,400. Interest and principal are payable at maturity. 2. October 1.2024, issued a three-month, 59 note for $31.200. Interest is payable monthly on the first day of the month. Principal is payable at maturity. Pearl has a November 30 fiscal year end and prepares adjusting entries on an annual basis