Respuesta :
The following journal entries will be passed in the books of accounts:
Explanation:
date account and explanation Debit Credit
July 1 Cash 74000
Notes payable-First national bank 74000
Nov 1 Cash 77000
Notes payable-Lyon country state bank 77000
Dec 31 Interest expense 2960
Interest payable 2960
(to record accrued interest)
Interest expense 770
Interest payable 770
(To record accrued interest)
Feb 1 Notes payable-Lyon country state bank 77000
Interest payable 770
Interest expense 385
Cash 78155
(To record amount paid)
Apr 1 Notes payable-First national bank 74000
Interest payable 2960
Interest expense 1480
Cash 78440
(To record amount paid)
The Journal entries are the accounting entries that are made in the books of accounts in order to maintain the cash and credit transactions. These transactions are recorded in the form of debit and credit that means the incoming cash is debited and the outgoing cash is credited.
The Journal entries have been attached below.
To know more about the Journal entries of the various transactions, refer to the link below:
https://brainly.com/question/16162014
