GL901 (Algo) Based on Problem 09-1A LO P1 The January 1, Year 1 trial balance for the Walsh Company is found on the trial balance tab. The beginning balances are assumed. Taylor Company entered into the following transactions involving short-term liabilities. (Use 360 days a year.) Year 1 April 20 Purchased $54,250 of merchandise on credit from Parker, terms n/30. May 19 Replaced the April 20 account payable to Parker with a 90-day, 12%, $39,000 note payable along with paying $15,250 in cash. July 8 Borrowed $93,000 cash from NBR Bank by signing a 120-day, 10%, $93,000 note payable. August 17 Paid the amount due on the note to Parker at the maturity date. November 5 Paid the amount due on the note to NBR Bank at the maturity date. November 28 Borrowed $48,000 cash from Sacramento Bank by signing a 60-day, 81, $48,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Sacramento Bank. Year 2 January 27 Paid the amount due on the note to Sacramento Bank at the maturity date. General Requirement Journal General Ledger Trial Balance Schedule of Calculation of Payables Interest Year 2 payment Prepare the journal entries related to notes and accounts payable. Hint: Use the "Calculation of Interest" tab to ensure the accuracy of your entries. View transaction list Journal entry worksheet 1 6 7 April 20. Purchased $54,250 of merchandise on credit from Parker, terms n/30. Note: Enter debits before credits. Date April 201 Account Title Debit Credit Record entry Clear entry View general journal 9 GL P 9-1a Saved 1 Book Ask The January 1, Year 1 trial balance for the Walsh Company is found on the trial balance tab. The beginning balances are assumed. Taylor Company entered into the following transactions involving short-term liabilities. (Use 360 days a year.) Year 1 April 20 Purchased $54,250 of merchandise 'on credit from Parker, terms n/30. May 19 Replaced the April 20 account payable to Parker with a 90-day, 12%, $39,000 note payable along with paying $15,250 in cash. July 8 Borrowed $93,000 cash from NBR Bank by signing a 120-day, 10%, $93,000 note payable. August 17 Paid the amount due on the note to Parker at the maturity date. November 5 Paid the amount due on the note to NBR Bank at the maturity date. November 28 Borrowed $48,000 cash from Sacramento Bank by signing a 60-day, 8, $48,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Sacramento Bank. Year 2 January 27 Paid the amount due on the note to Sacramento Bank at the maturity date. Print Requirement Merences General Journal General Ledger Trial Balance Schedule of Calculation of Payables Interest Year 2 payment Prepare the journal entries related to notes and accounts payable. Hint: Use the "Calculation of Interest" tab to ensure the accuracy of your entries. View transaction list Journal entry worksheet < 2 4 5 6 7 May 19. Replaced the April 20 account payable to Parker with a 90-day, 12%, $39,000 note payable along with paying $15,250 in cash. Note: Enter debits before credits. Date May 19 Account Title Debit Credit Clear entry View general journal Record entry The January 1, Year 1 trial balance for the Walsh Company is found on the trial balance tab. The beginning balances are assumed. Taylor Company entered into the following transactions involving short-term liabilities. (Use 360 days a year.) Year 1 April 20 Purchased $54,250 of merchandise on credit from Parker, terms n/30. May 19 Replaced the April 20 account payable to Parker with a 90-day, 12, $39,000 note payable along with paying $15,250 in cash. July 8 Borrowed $93,000 cash from NBR Bank by signing a 120-day, 10%, $93,000 note payable. August 17 Paid the amount due on the note to Parker at the maturity date. November 5 Paid the amount due on the note to NBR Bank at the maturity date. November 28 Borrowed $48,000 cash from Sacramento Bank by signing a 60-day, 8%, $48,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Sacramento Bank. Year 2 January 27 Paid the amount due on the note to Sacramento Bank at the maturity date. Requirement General Journal General Ledger Trial Balance Schedule of Calculation of Payables Interest Year 2 payment es Prepare the journal entries related to notes and accounts payable. Hint: Use the "Calculation of Interest" tab to ensure the accuracy of your entries. View transaction list Journal entry worksheet < 1 2 3 4 5 6 7 July 8. Borrowed $93,000 cash from NBR Bank by signing a 120-day, 10%, $93,000 note payable. Note: Enter debits before credits. Date July 08 Account Title Debit Credit View general Journal Record entry Clear entry *** 9 GL P 9-10 Saved 1 eBook Ask The January 1, Year 1 trial balance for the Walsh Company is found on the trial balance tab. The beginning balances are assumed. Taylor Company entered into the following transactions involving short-term liabilities. (Use 360 days a year.) Year 1 April 20 Purchased $54,250 of merchandise on credit from Parker, terms n/30. May 19 Replaced the April 20 account payable to Parker with a 90-day, 128, $39,000 note payable along with paying $15,250 in cash. July 8 Borrowed $93,000 cash from NBR Bank by signing a 120-day, 10%, $93,000 note payable. August 17 Paid the amount due on the note to Parker at the maturity date. November 5 Paid the amount due on the note to NBR Bank at the maturity date. November 28 Borrowed $48,000 cash from Sacramento Bank by signing a 60-day, 83, $48,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Sacramento Bank. Year 2 January 27 Paid the amount due on the note to Sacramento Bank at the maturity date. Print Requirement General Journal General Trial Balance Ledger Schedule of Calculation of Payables Interest Year 2 payment eferences Mc Graw Prepare the journal entries related to notes and accounts payable. Hint: Use the "Calculation of Interest" tab to ensure the accuracy of your entries. View transaction list Journal entry worksheet < 1 2 5 6 7 August 17. Paid the amount due on the note to Parker at the maturity date. Note: Enter debits before credits. Date August 17 Account Title Debit Credit View general journal Record entry Clear entry 09 GL P 9-1a Saved 1 nts eBook Ask The January 1, Year 1 trial balance for the Walsh Company is found on the trial balance tab. The beginning balances are assumed. Taylor Company entered into the following transactions involving short-term liabilities. (Use 360 days a year.) Year 1 April 20 Purchased $54,250 of merchandise on credit from Parker, terms n/30. May 19 Replaced the April 20 account payable to Parker with a 90-day, 12%, $39,000 note payable along with paying $15,250 in cash. July 8 Borrowed $93,000 cash from NBR Bank by signing a 120-day, 10%, $93,000 note payable. August 17 Paid the amount due on the note to Parker at the maturity date. November 5 Paid the amount due on the note to NBR Bank at the maturity date. November 28 Borrowed $48,000 cash from Sacramento Bank by signing a 60-day, 83, $48,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Sacramento Bank. Year 2 January 27 Paid the amount due on the note to Sacramento Bank at the maturity date. Print Requirement General Journal General Ledger Trial Balance Schedule of Calculation of Payables Interest Year 2 payment References Mc Prepare the journal entries related to notes and accounts payable. Hint: Use the "Calculation of Interest" tab to ensure the accuracy of your entries. View transaction list Journal entry worksheet < 1 2 3 5 6 7 November 5. Paid the amount due on the note to NBR Bank at the maturity date. Note: Enter debits before credits. Date November 05 Account Title Debit Credit Record entry Clear entry View general Journal Prev 1 of 1 ### Next GL P 9-1a1 Saved 1 look sk The January 1, Year 1 trial balance for the Walsh Company is found on the trial balance tab. The beginning balances are assumed. Taylor Company entered into the following transactions involving short-term liabilities. (Use 360 days a year.) Year 1 April 20 Purchased $54,250 of merchandise 'on credit from Parker, terms n/30. May 19 Replaced the April 20 account payable to Parker with a 90-day, 12%, $39,000 note payable along with paying $15,250 in cash. July & Borrowed $93,000 cash from NBR Bank by signing a 120-day, 10%, $93,000 note payable. August 17 Paid the amount due on the note to Parker at the maturity date. November 5 Paid the amount due on. the note to NBR Bank at the maturity date. November 28 Borrowed $48,000 cash from Sacramento Bank by signing a 60-day, 8%, $48,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Sacramento Bank. Year 2 January 27 Paid the amount due on the note to Sacramento Bank at the maturity date. rint Requirement rences General Journal General Ledger Trial Balance Schedule of Calculation of Payables Interest Year 2 payment Prepare the journal entries related to notes and accounts payable. Hint: Use the "Calculation of Interest" tab to ensure the accuracy of your entries. View transaction list Journal entry worksheet 23 4 5 6 7 November 28. Borrowed $48,000 cash from Sacramento Bank by signing a 60- day, 8%, $48,000 note payable. Note: Enter debits before credits. Date November 28 Account Title Debit Credit Record entry Clear entry View general journal ok The January 1, Year 1 trial balance for the Walsh Company is found on the trial balance tab. The beginning balances are assumed. Taylor Company entered into the following transactions involving short-term liabilities. (Use 360 days a year.) Year 1 April 20 Purchased $54,250 of merchandise on credit from Parker, terms n/30. May 19 Replaced the April 20 account payable to Parker with a 90-day, 12%, $39,000 note payable along with paying $15,250 in cash. July 8 Borrowed $93,000 cash from NBR Bank by signing a 120-day, 10%, $93,000 note payable. August 17 Paid the amount due on the note to Parker at the maturity date. November 5 Paid the amount due on the note to NBR Bank at the maturity date. November 28 Borrowed $48,000 cash from Sacramento Bank by signing a 60-day, 8, $48,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Sacramento Bank. Year 2 January 27 Paid the amount due on the note to Sacramento Bank at the maturity date. Requirement General Journal General Ledger Trial Balance Schedule of Calculation of Payables Interest Year 2 payment nces Prepare the journal entries related to notes and accounts payable. Hint: Use the "Calculation of Interest" tab to ensure the accuracy of your entries. View transaction list Journal entry worksheet < 1 2 45 6 7 December 31 Recorded an adjusting entry for accrued interest on the note to Sacramento Bank. Note: Enter debits before credits. Date December 31 Account Title Debit Credit Record entry Clear entry View general journal P 9-1a ces Saved July 8 Borrowed $93,000 cash from August 17 Paid the amount due on the NBR Bank by signing a 120-day, 10%, $93,000 note payable. note to Parker at the maturity date. November 5 Paid the amount due on the note to NDR Bank at the maturity date. November 28 Borrowed $48,000 cash from Sacramento Bank by signing a 60-day, 88, $48,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Sacramento Bank. Year 2 January 27 Paid the amount due on the note to Sacramento Bank at the maturity date. Requirement General Journal General Ledger. Trial Balance Schedule of Calculation of Payables Interest Year 2 payment Enter the principal amount, interest rate, and number of days of interest to be recorded for each note. Verify that interest expense agrees with your journal entries and the trial balance. Taylor Company Calculation of interest expense August 17-Parker note: Principal Interest rate Number of days' interest to be recorded in Year 1 Total interest expense - Year 1 GL901 (Algo) - Based on Problem 09-1A LO P1 The January 1, Year 1 trial balance for the Walsh Company is found on the trial balance tab. The beginning balances are assumed. Taylor Company entered into the following transactions involving short-term liabilities. (Use 360 days a year.) Year 1 April 20 Purchased $54,250 of merchandise on credit from Parker, terns n/30. May 19 Replaced the April 20 account payable to Parker with a 90-day, 128, $39000 note payable along with paying $15,250 in cash. July 8 Borrowed $93,000 cash from NBR Bank by signing a 120-day, 10%, $93,000 note payable. August 17 Paid the amount due on the note to Parker at the maturity date.. November 5 Paid the amount due on the note to NBR Bank at the maturity date. November 28 Borrowed $48,000 cash from Sacramento Bank by signing a 60-day, 81, $48,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Sacramento Bank. Year 2 January 27 Paid the amount due on the note to Sacramento Bank at the maturity date. 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 Sacramento note at maturity. Walsh Company does NOT prepare reversing entries. Date 1/27/Year 2 Account title. Debit Credit