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Pharoah Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. During the last part of 2025, Pharoah had the following

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Pharoah Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. During the last part of 2025, Pharoah had the following transactions related to notes payable. Sept. 1 Issued a $16,800 note to Pippen to purchase inventory. The 3 -month note payable bears interest of 6% arid is due December 1. (Pharoah uses a perpetual inventory system.) Sept. 30 Recorded accrued interest for the Pippen note. Oct. 1 Issued a $21,600,8%,4-month note to Prime Bank to finance the purchase of a new climbing wall for advanced climbers. The note is due February 1. Oct. 31 Recorded accrued interest for the Pippen note and the Prime Bank note. Nov. 1 Issued a $27,600 note and paid $9,200 cash to purchase a vehicle to transport clients to nearby climbing sites as part of a new series of climbing classes, This note bears interest of 7% and matures in 12 months. Nov. 30 Recorded accrued interest for the Pippen note, the Prime Bank note, and the vehicle note. Dec 1 Pald principal and interest on the Pippen note. Dec. 31 Recorded accrued interest for the Prime Bank note and the vehicle note. Prepare journal entries for the transactions noted above. (List all debit entries before credit entries. Credit occount titles are automatically indented when amount is entered. Do not indent manuolly, If no entry is required, select "No Entry" for the occount titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.) Interest Payable 262 Now 1 Equiprnent 36800 Cash \begin{tabular}{r} 9200 \\ \hline 27600 \\ \hline \end{tabular} Notes Payable Nov 30 Interest Expense 16100 Dec. 1 Notes Payabie 16100 Interest Parable Interest Payable 252 Cash 17052 Dec 31 Interest Expense 322 Interest Payable 322

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