10 1 Book The January 1. Year 1 trial balance for the Tyrell Company is found on the trial balance tab. The beginning balances are assured Tyrell Company entered into the following transactions involving short-term liabilities Note: Use 360 days a year. Year 1 April 20 Purchased $40,250 of merchandise on credit from Locust, terms n/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 10%, $35,000 note payable along with paying 55,250 in cash. July Borrowed $80,000 cash from NBR Bank by signing a 120-day, 9, $80,000 note payable. August 17 Paid the amount due on the note to Locust at the maturity date. November 5 Paid the amount due on the note to NBR Bank at the maturity date. November 28 Borrowed $42,000 canh from Fargo Bank by signing a 60-day, 84, $42,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. points Year 2 Print January 27 Paid the amount due on the note to Fargo Bank at the maturity date. References Requirement General Journal General Ledger Trial Balance Schedule of Calculation of Payables Interest Year 2 payment Prepare the January 27, Year 2 journal entry to record the payment of the Fargo note at maturity. Tyrell Company does NOT prepare reversing entries. Date 1/27/Year 2 Account title Debit Credit