T E Goldey-Beacom, College ACC207 Principles of Accounting II Assignment #1B-CH10 Problem #1 Skate City Corporation sells skateboard products and also operates an indoor skating facility for enthusiasts. During the last part of 2022, Skate City had the following transactions related to notes payable. (a) Prepare journal entries for the transactions noted below. Aug. 1: Issued a $6,000 note to Pippen to purchase inventory. The 3-month note payable bears interest of 9% and is due November 1. Date Account Titles and Explanation Debit Credit Aug. 31: Recorded accrued interest for the Wheeler note. Date Account Titles and Explanation Debit Credit Sept. 1: Issued a $15,000, 8%, 6-month note to Commerce Bank to finance the purchase of new ramps for advanced boarders. The note is due March 1. Date Account Titles and Explanation Debit Credit Sept 30: Recorded accrued interest for the Wheeler note and the Commerce Bank note. Date Account Titles and Explanation Debit Credit Focus