help

North Company entered into the following transactions involving short-term liabilities. (Use 360 days a year.) Year 1 Apri1 20 Purchased $53,750 of merchandise on credit from Garcia, terms n/30. May 19 Replaced the April 20 account payable to Garcia with a 90 -day, 108,$38,000 note payable along with paying $15,750 in cash. July 8 Borrowed $90,000 cash fron AKR Bank by signing a 120 -day, 98,$90,000 note payable. August 17 Paid the amount due on the note to Gareia at the maturity date. November 5 Paid the amount due on the note to AKR nank at the maturity date. November 28 Borrowed $45,000 cash f rom Nlbany Bank by tiqning a 60 -day, 81,$45,000 note payable. December 31 Recorded an adjusting entry for acerued interest on the note to Albany Bank. Year 2 January 27 Paid the anount due on the note to Albany Bank at the maturity date. Prepare the journal entries related to notes and accounts payable. Hint: Use the "Calculation of Interest" tab to ensure the accuracy of your entries. North Company entered into the following transactions involving short-term liabilities. (Use 360 days a year.) Year 1 April 20 Purchaned $53,750 of merchandise on credit from Gareia, teras n/30. May 19 Replaced the April 20 acceunt payable to Garcia with a 90day,108,$38,000 note payable along with paying $15,750 in cash. July 8 Borrowed $90,000 eash froe AKR Bank by signing a 120 -day, 98,$90,000 note payable. August 17 Paid the anount due on the note to Garela at the maturity date. November 5 Paid the amount due on the note to AKA Bank at the maturity date. Novenber 28 Borrowed $45,000 eash fron Albany Bank by signing a 60 -day, 88,$45,000 note payable. Decenber 31 Recorded an adjusting entry for accrued interest on the note to Albany Bank. Year 2 January 27 Paid the anount due on the note to Albany Bank at the naturity date. General Led North Company entered into the following transactions involving short-term llabilities. (Use 360 days a year.) Year 1 April 20 Purchased $53,750 of morehandise on eredit from Gareia, terns n/30. May 19 Replaced the April 20 aceount payable to Gareia with a 90 -day, 100,$38,000 note payable along with payifig $15,750 in cash. July 8 Borrowed $90,000 cash from NKR Bank by signing a 120-day, 91,$90,000 note payable. August 17 Paid the amount due on the note to Garcia at the maturity date. Novesber 5 Paid the amount due on the note to AKR Bank at the maturity date, Novembor 28 Borrowed $45,000 cash from Albany Bank by signing a 60 day, 81,545,000 note payable. December 31 Recorded an adjusting entry for acerued interest on the pote to Albany Bank. Year 2 January 27 Paid the amount due on the note to Albany Dank at the maturity date. No input required. Year 2018 represents Year 1 from the problem statement. The January 1, Year 1 trial balance for the Perry Company is found on the trial balance tab. North Company entered into the following transactions involving short-term liabilities. (Use Year 1 April 20 Purchased $53,750 of merchandise on credit from Garcia, terms n/30. May 19 Replaced the Apri1 20 account payable to Garcia with a 90 day, 103 , $15,750 in cash. July 8 Borrowed $90,000 cash from AKR Bank by signing a 120-day, 98,$90,000 August 17 Paid the amount due on the note to Garcia at the maturity date. November 5 paid the amount due on the note to AKR Bank at the maturity date. November 28 Borrowed $45,000 cash from Albany Bank by signing a 60 day, 83,$45,00 December 31 Recorded an adjusting entry for accrued interest on the note to Albany Year 2 January 27 Paid the amount due on the note to Albany Bank at the maturity date. Here are the balances in Accounts and Notes payable based on your journal entries: North Company entered into the following transactions involvin Year 1 April 20 Purchased $53,750 of merchandise on credit from Garcia, terms n/30. May 19 Replaced the April 20 account payable to Garcia with a 90 -day, 108,$38,000 note pay $15,750 in cash. July 8 Borrowed $90,000 cash from AKR Bank by signing a 120 -day, 98,$90,000 note payable. August 17 Paid the amount due on the note to Garcia at the maturity date. November 28 Borrowed $45,000 cash from note to AKR Bank at the maturity date. December 31 Recorded an adjusting entry fory Bank by signing a 60 -day, 88,$45,000 note payable Year 2 January 27 Paid the amount due on the note to Albany 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 expense agrees with your journal entries and the trial balance. North Company entered into the following transactions involving short-term liabilities. (Use 360 days a year.) Year 1 April 20 Purchased $53,750 of merchandise on credit from Garcia, terms n/30. May 19 Replaced the April 20 account payable to Garcia with a 90 -day, 108,$38,000 note payable $15,750 in cash. July 8 Borrowed $90,000 cash from AKR Bank by signing a 120-day, 98,$90,000 note payable. August 17 Paid the amount due on the note to Garcia at the maturity date. November 5 Paid the amount due on the note to AKR Bank at the maturity date. November 28 Borrowed $45,000 cash from Albany Bank by signing a 60 -day, 88,$45,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Albany Bank. Year 2 January 27 Paid the amount due on the note to Albany Bank at the maturity date. Prepare the January 27 , Year 2 journal entry to record the payment of the Albany note at maturity. Perry Company NOT prepare reversing entries