July 1. 2021 Borrows $48,000 from First National Bank by signing a nine-month, 8% note. Nov. 1, 2021 Dec. 31, 2021 Borrows $57,600 from Interprovincial Bank by signing a three-month, 6% note. Prepares annual year-end adjusting entries. Feb. 1, 2022 Pays principal and interest to Interprovincial Bank. Apr. 1, 2022 Pays principal and interest to First National Bank. Prepare journal entries for each of the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) Date July 1, 2021 Nov. 1, 2021 Dec. 31, 2021 Account Titles and Explanation (Borrowed cash and signed a note payable.) (Borrowed cash and signed a note payable.) Feb. 1, 2022 (Accrued interest expense.) Apr. 1, 2022 (Paid note and interest owing.) (Paid note and interest owing.) Debit Credit