E10.4 (lo 1), ap c. s. lewis company had the following transactions involving notes payable. prepare entries for interest-bearing notes. july 1, 2022 borrows $50,000 from first national bank by signing a 9-month, 8% note. nov. 1, 2022 borrows $60,000 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.

Exercise 15-7 crawford corporation incurred the following transactions. 1. purchased raw materials on account $53,000. 2. raw materials of $45,200 were requisitioned to the factory. an analysis of the materials requisition slips indicated that $9,400 was classified as indirect materials. 3. factory labor costs incurred were $65,400, of which $50,200 pertained to factory wages payable and $15,200 pertained to employer payroll taxes payable. 4. time tickets indicated that $55,000 was direct labor and $10,400 was indirect labor. 5. manufacturing overhead costs incurred on account were $81,700. 6. depreciation on the company’s office building was $8,100. 7. manufacturing overhead was applied at the rate of 160% of direct labor cost. 8. goods costing $89,400 were completed and transferred to finished goods. 9. finished goods costing $76,000 to manufacture were sold on account for $105,100. journalize the transactions. (credit account titles are automatically indented when amount is entered. do not indent manually.) no. account titles and explanation debit credit (1) (2) (3) (4) (5) (6) (7) (8) (9) (to record the sale) (to record the cost of the sale) click if you would like to show work for this question: open show work