Exercises Prepare entries for interest-bearing notes. E10.1 (LO 1), AP C.S. Lewis Company had the following transactions involving notes payable. July 1, Borrows $50,000 from First 2022 National Bank by signing a 9- month, 8% note. Nov. 1, Borrows $60,000 from Lyon 2022 County State Bank by signing a 3-month, 6% note. Prepares annual adjusting 2022 entries. Pays principal and interest to 2023 Lyon County State Bank. Apr. 1, Pays principal and interest to 2023 First National Bank. Dec. 31, Feb. 1, Instructions Prepare journal entries for each of the transactions. Journalize sales and related taxes. E10.3 (LO 1), AP In performing accounting services for small businesses, you encounter the following situations pertaining to cash sales. 1. Cerviq Company enters sales and sales taxes separately on its cash register. On April 10, the register totals are sales $22,000 and sales taxes $1,100. 2. Quartz Company does not segregate sales and sales taxes. Its register total for April 15 is $13,780, which includes a 6% sales tax. Instructions Prepare the entries to record the sales transactions and related taxes for (a) Cerviq Company and (b) Quartz Company