Question 8 of 10 -/1 E View Policies Current Attempt in Progress During 2021. Sunland Company borrowed cash from Blossom Company by issuing notes payable as follows: July 1, 2021, issued an eight-month, 4% note for $64,200. Interest and principal are payable at maturity. November 1, 2021, issued a three-month, 8% note for $38,400. Interest is payable monthly on the first day of the month. Principal is payable at maturity, 1. 2 Sunland has a December 31 fiscal year end and prepares adjusting entries on an annual basis. Part 1 Prepare all necessary journal entries for Sunland Company to record the notes. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to the nearest whole dollar, eg. 5,275. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit LINALOM 3 ad block for chrom CUSTOMER WEB SE M Connec Question 8 of 10 -/15 Prepare all necessary journal entries for Sunland Company to record the notes. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to the nearest whole dollar, eg. 5,275. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit e Textbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit Answer Part 2 Question 8 of 10 -11 Prepare the necessary interest payment transactions for Sunland in 2021 and 2022. Prepare separate adjusting entries for each note. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to the nearest whole dollar, eg. 5,275. If no entry is required, select "No Entry for the account titles and enter for the amounts. Record journal entries in the order presented in the problem.) Account Titles and Explanation Debit Credit Date (Paid interest expense.) (To accrue interest on note issued July 1, 2021.) (To accrue interest on note issued Nov. 1, 2021.) (Pay interest owed on note) Question 8 of 10 -/1 (Pay interest owed on note.) Feb. 1/22 (Pay principal and interest on note.) Mar. 1/22 (Pay principal and interest on note.) e Textbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit
