Question: S . C Sheffield Company has these transactions involving notes payable July 1 , 2 0 2 2 Borrows $ 5 0 5 0 0

S.C Sheffield Company has these transactions involving notes payable
July 1,2022 Borrows $50500 from the First National Bank by signing a 9-month, 8% note
Nov 1,2022 Borrows $62000 from Lyon County State Bank by signing a 3-month, 6% note
Dec. 31,2022 Prepares adjusting entries.
Feb. 1,2023 Pay Principal and interest to Lyon County State Bank
Apr. 1,2023 Pays Principal and interest to First National Bank.
Prepare journal entries for each of the transactions

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