C. S. Cullumber Company had the following transactions involving notes payable. July 1, 2022Borrows $38,000 from First National Bank by signing a 9-month, 8% note. Nov. 1, 2022Borrows $41,000 from Lyon County State Bank by signing a 3-month, 6% note. Dec. 31, 2022Prepares adjusting entries. Feb. 1, 2023Pays principal and interest to Lyon County State Bank. Apr. 1, 2023Pays principal and interest to First National Bank. Prepare journal entries for each of the transactions.

10. which of the following is true regarding preretirement inflation? a. defined-benefit plans provide more inflation protection than defined-contribution plans. b. because of preretirement inflation, possible investment-related growth is increased for defined-contribution plans. c. all types of benefits are designed to cope with preretirement inflation. d. preretirement inflation is generally reflected in the increase in an employee's compensation level over a working career.