P10-1A. Journal Entries for Accounts and Notes Payable Lyon Company had the following transactions: L01 Apr. May June July 8 Issued a 6,000, 60-day, six percent note payable in payment of an account with Bennett Company. 15 Borrowed $40,000 from Lincoln Bank, signing a 60-day note at nine percent. 7 Paid Bennett Company the principal and interest due on the April 8 note payable. 6 Purchased $14,000 of merchandise from Bolton Company; signed a 90-day note with ten percent interest. 14 Paid the May 15 note due Lincoln Bank. July Oct. 2 Borrowed $30,000 from Lincoln Bank, signing a 120-day note at nine percent. 4 Defaulted on the note payable to Bolton Company. Required a. Record these transactions in general journal form. b. Record any adjusting entries for interest in general journal form. Lyon Company has a Decem- ber 31 year-end