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Windsor's had the following transactions involving notes payable. July 1, Nov. 1, 2024 2024 Dec. 31, 2024 Feb. 1, 2025 Apr. 1, 2025 Borrows $58,800
Windsor's had the following transactions involving notes payable. July 1, Nov. 1, 2024 2024 Dec. 31, 2024 Feb. 1, 2025 Apr. 1, 2025 Borrows $58,800 from First National Bank by signing a nine-month, 8% note. Borrows $70,800 from Interprovincial Bank by signing a three-month, 6% note. Prepares annual year-end adjusting entries. Pays principal and interest to Interprovincial Bank. Pays principal and interest to First National Bank. Prepare journal entries for each of the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem.)
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