Question 16 of 18 View Policies Current Attempt in Progress C.S. Bonita Company had the following transactions involving notes payable. July 1, 2020 Nov. 1, 2020 Dec 31, 2020 Feb. 1,2021 Apr. 1, 2021 Borrows $50,000 from First National Bank by signing a 9-month, 8% note. Borrows $63,600 from Lyon County State Bank by signing a 3-month, 6% note. Prepares adjusting entries. Pays principal and interest to Lyon County State Bank. Pays principal and interest to First National Bank. Question 16 of 18 -122 Prepare journal entries for each of the transactions. (Credit account titles are automatically indented when amount is entered, Do not indent manually. Round answers to 0 decimal places, e.g. 5,275. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit July 1, 2020 Equipment Notes Payable Nov. 1. 2020 , Cash Notes Payable Dec 31, 2020 (Adjusting entry for First National Bank note.) Dec 31, 2020 (Adjusting entry for Lyon County State Bank note.) Feb 1, 2021 Notes Payable Interest Expense Cash Question 16 of 18 -122 Dec 31, 2020 I (Adjusting entry for First National Bank note.) Dec 31, 2020 (Adjusting entry for Lyon County State Bank note.) Feb. 1.2021 Notes Payable Interest Expense Cash Apr. 1.2021 Notes Payable Interest Expense Cash