John Johnson Company had the following transactions involving notes payable.

June 1, 2022

Borrows $57,400 from First National Bank by signing a 9-month, 12% note.

Dec. 1, 2022

Borrows $73,800 from Sycamore State Bank by signing a 3-month, 10% note.

Dec. 31, 2022

Prepares adjusting entries.

Mar. 1, 2023

Pays principal and interest to Sycamore State Bank.

Mar. 1, 2023

Pays principal and interest to First National Bank.

(a)

Prepare journal entries for each of the transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date

Account Titles and Explanation

Debit

Credit