Question: # 1. On April 1, C.S. Lewis Company borrows (Notes payable) $70,000 from Lyon National Bank by signing a 3 month 8% note. Prepare

# 1. On April 1, C.S. Lewis Company borrows (Notes payable) $70,000

# 1. On April 1, C.S. Lewis Company borrows (Notes payable) $70,000 from Lyon National Bank by signing a 3 month 8% note. Prepare the journal entries to record: a) the issuance of the note b) the accrual of interest at year end (April to December) Account Titles and Explanation Ref Debit Credit

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