Please help Im not sure how to calculate interest thanks in advance.

ments > Ch 10: Homework 7 10: Homework IN Assignment sent to Gradebook. Your grade is being recorded. Wed, Apr 15, 2020, 10:43:24 AM (America/Los Angeles -07:00) Question 7 iew Policies urrent Attempt in Progress C.S. Crane Company had the following transactions involving notes payable. July 1, 2022 Borrows $71,000 from First National Bank by signing a 9-month, 8% note. Nov. 1, 2022 Borrows $74,000 from Lyon County State Bank by signing a 3-month, 6% note. Dec 31, 2022 Prepares adjusting entries. Feb. 1, 2023 Pays principal and interest to Lyon County State Bank. Apr. 1, 2023 Pays principal and interest to First National Bank. Prepare journal entries for each of the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entr Date Account Titles and Explanation Debit Credit July 1, 2022 71000 71000 November 1, 2022 December 31, 2022 April 1, 2023