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E11-1 C.S. Lewis Company had the following transactions involving notes payable. Prepare all needed entries. July 1, 2017 Borrows $50,000 from First National Bank by

E11-1 C.S. Lewis Company had the following transactions involving notes payable. Prepare all needed entries. July 1, 2017 Borrows $50,000 from First National Bank by signing a 9-month, 8% note. Nov. 1, 2017 Borrows $60,000 from Lyon County State Bank by signing a 3-month, 6% note. Dec. 31, 2017 Prepares adjusting entries

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