11 Saved Required information [The following information applies to the questions displayed below) Tyrell Company entered into the following transactions involving short-term Habilities Year 1 April 20 Purchased 536,500 of merchandise on credit from Locust, tens 30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 9, 535,000 note payable along with paying $1,500 in cash. July 3 Borrowed 551,000 cash from NSR Bank by signing a 120-day, 114, 351,000 hote payable Paid the amount due on the note to Locust at the maturity date. Paid the amount due on the note to BR Bank at the maturity date. November 26 Borrowed 556.000 cash from Farge Blank by signing a 60 day., $36,000 notet payable. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank Year 2 __ Pald the amount due on the note to Forgo Bank at the maturity date. 2. Determine the interest due at maturity for each of the three notes (Do not round intermediate calculations and round your final answer to nearest whole dollar. Use 360 days a year.) 90/360 5 BS SO- 1207360 Locust NBR Bank Fargo Bank 35,000 - 63.000 24.000- $ 60/360 5 Required information [The following information applies to the questions displayed below) Tyrell Company entered into the following transactions involving short-term liabilities. Year 1 April 20 Purchased $36,500 of merchandise on credit fron Locust, teins n/30. May 19 Replaced the April 20 account payable to locust with a 90-day, 9%, 535,000 note payable along with paying $1,500 in cash. July 8. Borrowed $51,000 cash from NR Bank by signing a 120-day, 11%, $51,000 note payable. __? Paid the amount due on the note to Locust at the maturity date. Paid the amount due on the note to NBR Bank at the maturity date. November 28 Borrowed 536,eee cash from Fargo Bank by signing a 60-day.x, 536.00 note payable. December 31 Recorded an adjusting entry for accrued interest on the noge to Fargo Bank Year 2 __ Paid the amount due on the note to Fargo Bank at the naturity date. 3. Determine the interest expense recorded in the adjusting entry at the end of Year 1. (Do not round intermediate calculations and round your final answer to nearest whole dollar. Use 360 days a year.) Year End Accrual Required for Fargo Bank Rate Interest Principal Interest to be accrued in Year 1 O Required information [The following information applies to the questions displayed below.) Tyrell Company entered into the following transactions involving short-term habilities Year 1 April 20 Purchased $36,500 of merchandise on credit from Locust, terns n/30. May 19 Replaced the April 2e account payable to locust with a 90-day, 9%, $35,000 note payable along with paying $1,500 in cash. July 8 Borrowed $51,000 cash from NBR Bank by signing a 120-day, 11%, 551,000 note payable. Paid the amount due on the note to Locust at the maturity date. Paid the amount due on the note to NBR Bank at the maturity date. November 28 Borrowed $36,000 cash from Fargo Bank by signing a 60-day, 16%, $36,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank Year 2 __ Paid the amount due on the note to Fargo Bank at the naturity date. 4. Determine the interest expense recorded in Year 2. (Do not round intermediate calculations and round your final answers to nearest whole dollar. Use 360 days a year.) Fargo Bank Year End Accrual Required for. Interest Time Rate Principal % Interest to be recorded in Year 2