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5 Part 5 of 5 10 points Return to questionItem 5 Required information Skip to question [The following information applies to the questions displayed below.]
5 Part 5 of 5 10 points Return to questionItem 5 Required information Skip to question [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 $40,000 of merchandise on credit from Locust, terms n/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 7%, $35,000 note payable along with paying $5,000 in cash. July 8 Borrowed $54,000 cash from NBR Bank by signing a 120-day, 11%, $54,000 note payable. __?question mark__ Paid the amount due on the note to Locust at the maturity date. __?question mark__ Paid the amount due on the note to NBR Bank at the maturity date. November 28 Borrowed $21,000 cash from Fargo Bank by signing a 60-day, 8%, $21,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 __?question mark__ Paid the amount due on the note to Fargo Bank at the maturity date
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