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

June $1,2024,$ issued an eight$-$month, $5\%$ note for $$88,800.$ Interest and principal are payable at maturity.

October $1,2024,$ issued a three$-$month, $8\%$ note for $$33,600.$ Interest is payable monthly on the first day of the month. Principal is payable at maturity.

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

Entry" for the account titles and enter $0$ for the amounts. List all debit entries before credit entries.$)$

Date Account Titles and Explanation Debit

$($Paid interest expense on note issued Oct. $1,2024.)$

Nov. $\frac{1}{24}$

$($To accrue interest on note issued June $1,2024.)$

$($To accrue interest on note issued Oct. $1,2024.)$

$($Pay interest owed on note issued Oct. $1,2024.)$

Interest Expense

$($Pay principal and interest on note issued Oct. $1,2024.)$

$($Pay principal and interest on note issued June $1,2024.)$

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