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help 8 Tyrell Company entered into the following transactions involving short-term liabilities. Year 1 April 20 Purchased $37,500 of merchandise on credit from Locust, terms
help 8
Tyrell Company entered into the following transactions involving short-term liabilities. Year 1 April 20 Purchased $37,500 of merchandise on credit from Locust, terms n/30. May 19 Replaced the Apri1 20 account payable to tocust with a 90 -day, 98,535,900 note payable along with paying $2,500 in cosh. July B Borrowed $63,090 cash fron NBR Bank by signing a 120-day, 118 , $63,900 note payable. - ? Paid the asount due on the note to Locust at the maturity date. Paid the amount due on the note to NBR zank at the naturity date. November 28 Borrowed $24,000 cash from Fargo Bank by signing a 60 -day, 83,$24,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 - P. Paid the anount due on the note to Fargo bank at the naturity date, 2. Determine the interest due at matuhity for each of the three notes. (Do not round intermediote, calculations and round your finol answer to nearest whole dollar. Use 360 doys a year.)
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