The following note transactions occurred during the year for Towne Company:

Nov. 25 Towne issued a 90 -day, nine percent note payable for \(\$ 8,000\) to Hyatt Company for merchandise.

Dec. 7 Towne signed a 120 -day, \(\$ 30,000\) note at the bank at ten percent.

22 Towne gave Barr, Inc., a \(\$ 12,000\), four percent, 60 -day note in payment of account.

Prepare the general journal entries necessary to adjust the interest accounts at December 31.