3) Newtowne Furniture Gallery issued two notes payable during 2023. Pertinent data on these notes...
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3) Newtowne Furniture Gallery issued two notes payable during 2023. Pertinent data on these notes are shown below: Note Amount Rate Term Date Issued A $10,000 10% 120 days November 1 B $12,500 9% 60 days December 1 In addition to the above two notes, Newtowne Furniture Gallery gave a $50,000, 8%, 180-day note to the First City Bank on September 2, 2023 for a cash loan. Prepare adjusting entries on December 31, 2023, for the above three notes
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