had two notes payable vable outstanding P10-2A. Adjusting Entries for Interest At December 31, 2017, Eric Corporation had two notes outstanding (notes 1 and 2). At December 31, 2018, Eric also had two notes payable outs (notes 3 and 4). These notes are described below: Date of Note Principal Amount Interest Rate Number of Dave .. .. 8% 11/16/2017 12/4/2017 $30,000 16,000 120 December 31, 2017 N ote 1......... Note 2......... December 31, 2018 Note 3. ......... Note 4.......... 12/7/2018 12/21/2018 9,000 18,000 Required a. Prepare the adjusting entries for interest at December 31, 2017. b. Assume that the adjusting entries were made at December 31, 2017. Prepare the 2018 journal entries to record payment of the notes that were outstanding at December 31, 2017. c. Prepare the adjusting entries for interest at December 31, 2018. a 2017 31-Dec 31-Dec b 2018 2-Feb 16-Mar 31-Dec 31-Dec