Please show all work, I'm so confused! Thank you so much C.S. Sunland...
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Please show all work, I'm so confused! Thank you so much
C.S. Sunland Company had the following transactions involving notes payable. July 1, 2022 Borrows $56,000 from First National Bank by signing a 9-month, 8% note. Nov. 1, 2022 Borrows $59,000 from Lyon County State Bank by signing a 3-month, 6% note. Dec. 31, 2022 Prepares adjusting entries. Feb. 1, 2023 Pays principal and interest to Lyon County State Bank. Apr. 1, 2023 Pays principal and interest to First National Bank. Date Account Titles and Explanation Debit Credit 1, 2022 Cash 56000 Notes Payable 56000 mber 1, 2022 Cash 59000 Notes Payable 59000 mber 31, 2022 Interest Expense 3360 Interest Payable 3360 3360 (To record accrual of interest from First National Bank) mber 31, 2022 Interest Expense 3540 Interest Payable 3540 (To record accrual of interest from Lyon County State Bank) Bank) lary 1, 2023 Notes Payable Interest Payable Cash 1, 2023 Notes Payable Interest Payable Cash
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Please show all work, I'm so confused! Thank you so much 