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Journal Entrys: Nov 15. Hephaestus purchases land worth 70,000 for 15,000 shares of stock and promises...

Journal Entrys: Nov 15. Hephaestus purchases land worth 70,000 for 15,000 shares of stock and promises to pay the seller 55,000 with interest of 10% in 5 years.    Dec 1. A forklift is purchased for 10,000 paying half in cash and half with 5 year 12% note. The forklift is expected to last for 10 years    Adjusting Entry: Compute and record all the acccured interest expense on (A) the note given to the investor who supplied 20 acres of land on Nov 15 and (B) the forklift. Use a 360-day year and verify a total of 737.50 for both notes How do i do both of this adjusting entries?

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