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Collins Company entered into the following transactions involving short-term liabilities. Note: Use 360 days a year. Year 1 April 20 Purchased $52,250 of merchandise on credit from Lewis, terms n/30 May 19 Replaced the April 20 aceount payable to Lewis wath a 90-day. 12%,$39,000 note payable along walh paying $13,250 in cash. July 8 Borrowed $117,000 cah frora NYR Bank by sigaing a 120 -day, 9%,5117,000 note payable August 17 Paid the amsount due on the note to Lewis at the taaturty date Novembers Paid the amount due on the note to NYR Bank at the maturity date November 28 Borrowed $75,000 cath frorn Fargo Bank by wigang a 60 -day, 8%,575,000 nole payable. December 31. Recorded an adjusting entry for accrued intereit on the note to Fargo Bank Yoar 2 Jasuary 27 Paid the amount due on the note to Fargo Bank at the maturity date. 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: Collins Company Calculation of interest expense August 17 - Lewis