Current Attempt in Progress

During $2024,$ Indigo Co$.$ borrowed cash from Sharnrock Company by issuing notes payable as follows:

June $1,2024,$ issued an eight$-$month, $4\%$ note for $$73,200.$ Interest and principal are payable at

October $1,2024,$ issued a three$-$month, $4\%$ note for $$43,200.$ Interest is payable monthly on the

Principal is payable at maturity.

Indigo has a November $30$ fiscal year end and prepares adjusting entries on an annual basis.

$($a$)$

Prepare all necessary journal entries for Indigo to record the notes, $($Credit account titles are automatical$)$

entered. Do not indent marually. If no entry is required, select $"$No Entry" for the account titles and enter O for

entries in the order presented in the problem. Listall debit entries before credit entries $1$