Question: On April 1, C.S. Lewis Company borrows ( Notes payable ) $60,000 from Lyon National Bank by signing a 24 month 6% note. Prepare the

  1. On April 1, C.S. Lewis Company borrows (Notes payable) $60,000 from Lyon National Bank by signing a 24 month 6% note. Prepare the journal entries to record:

  1. the issuance of the note
  2. the accrual of interest at year end (April to December)

#

Account Titles and Explanation

Ref

Debit

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