25 Tyrell Co. entered into the following transactions involving short-term liabilities Year 1 Apr. 20 Purchased $39,000 of merchandise on credit fron Locust, terns 1/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 99, $35,000 note payable along with paying $4,000 in cash. July 8 Borrowed $69,000 cash from NBR Bank by signing a 120-day, 12, $69,000 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 naturity date. Nov. 28 Borrowed $33,000 cash from Fargo Bank by signing a 60-day, 64, $33,008 note payable. Dec. 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 ces Paid the anount due on the note to Fargo Bank at the maturity date. Required: 1. Determine the maturity date for each of the three notes described Locust NBR Bank Fargo Bank Maturity dato ed below of 5 Tyrell Co. entered into the following transactions involving short-term liabilities, Year 1 Apr. 20 Purchased $39,000 of merchandise on credit from Locust, terms n/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 99, $35,000 note payable along with paying $4,000 in cash. July 8 Borrowed $69,000 cash from NBR Bank by signing a 120-day, 129, $69,000 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. Nov. 28 Borrowed $33,000 cash from Fargo Bank by signing a 60-day, 64, 33,000 note payable. Dec. 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. book int ances 2. Determine the interest due at maturity for each of the three notes. (Do not round your intermediate calculations. Use 360 days a year.) Principal x Rate Time Interest Locust NBR Bank Fargo Bank X % x % X XIX X of 5 ation applies to the questions displayed below! Tyrell Co. entered into the following transactions involving short-term liabilities. Year 1 Apr. 20 Purchased $39,000 of merchandise on credit from Locust, terms n/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 99, 535,000 note payable along with paying $4,000 in cash. July 8 Borrowed $69,000 cash from NBR Bank by signing a 120-day, 12%, $69.000 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. Nov. 28 Borrowed $33,000 cash from Fargo Bank by signing a 60-day, 69, $33,000 note payable. Dec. 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. look int Year 2 ences 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 your intermediate calculations. Use 360 days a year.) Year End Accrual Required for Fargo Bank Time Principal X Rate Interest Interest to be accrued in Year 1 be art 4 of 5 Tyrell Co. entered into the following transactions involving short-term liabilities, 09 Ints Year 1 Apr. 20 Purchased $39,000 of merchandise on credit from Locust, terns n/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 9, $35,000 note payable along with paying $4,000 in cash. July 8 Borrowed $69,888 cash from NBR Bank by signing a 120-day, 129, 569,000 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. Nov. 28 Borrowed $33,800 cash from Fargo Bank by signing a 60-day, 64, 633,eee note payable. Dec. 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. eBook Print References Year 2 ___ Paid the amount due on the note to Fargo Bank at the maturity 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.) Year and accrual required for: Principal x Rate Fargo Bank Timo % Interest Interest to be recorded in Year 2 9 Year 1 Apr. 20 Purchased $39,000 of merchandise on credit from Locust, terms n/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 99, $35,000 note payable along with paying $4,000 in cash. July 8 Borrowed $69,000 cash from NBR Bank by signing a 120-day, 12%, $69,000 note payable. -2__ 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. Nov. 28 Borrowed $33,000 cash from Fargo Bank by signing a 60-day, 64, $33,000 note payable. Dec. 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Part 5 of 5 9.09 points Year 2 _?__ Paid the amount due on the note to Fargo Bank at the maturity date. eBook 5. Prepare journal entries for all the preceding transactions and events. (Do not round your intermediate calculations.) Print References View transaction list Journal entry worksheet 2 3 4 6 8 Purchased $39,000 of merchandise on credit from Locust, terms n/30. Note: Enter debits before credits