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i just need help on these please? Year 1 April 20 Purchased $37,500 of merchandise on credit ron Lout, tome 1/30 May 19 Replaced the
i just need help on these please?
Year 1 April 20 Purchased $37,500 of merchandise on credit ron Lout, tome 1/30 May 19 Replaced the April 20 account payable to Lout with a 90-day, I, 535,000 note payable along with paying $2,500 in cash. July 8 Borrowed $57,000 cash rron R Bank by signing a 120-day, 111,557,000 note payable Paid the amount due on the note to Locust at the maturity date. Paid the amount doe on the note to NOR Bank at the maturity date. November 28 Borrowed $21,000 cash from Fargo Bank by signing a 60-day, 61, 521,000 note payable. December 31 Recorded an adjusting entry for acerued interest on the note to Fargo Bank Year 2 __ Paid the amount due on the note to Yargo Bank at the maturity date. Problem 9-1A (Algo) Part 2 2. Determine the interest due at maturity for each of the three notes. (Do not round Intermediate calculations and round your final answer to nearest whole dollar. Use 360 days a year.) Time Interest Principal Locust Rate % % % NBR Bank Fargo Bank x x Chery The following information appes to the questions displayed below Tyrell Company entered into the following transactions involving short termes Year 1 April 20 Purchased 37.500 of merchandise on credit toelaat, 30. May 19 Replaced the April 20 sont payable to trust with 90-day, 14, 335,000 note pale si with paying $2.500 in cash July Borrowed $57,000 cash from a Bank by signing 120-day, 111,557,000 note pale. Paid the amountdow on the note te toets the patrisy date. Paid the amount does the note to Bank at the maturity date November 28 Borrowed 521.000 cash from Fargo Bank by si 16-day, 41, 121.000 mete payable. December 31 Recorded an adjusting entry for served interest on the tota te Fargo Bank Year 2 __ Paid the amount due on the note to rango Bank at the naturity date. Problem 9-1A (Algo) Part 3 3. Determine the interest expense recorded in the adjusting entry at the end of Year 1. (Do not round Intermediate calculations and round your final answer to nearest whole dollar. Use 360 days a year) Year End Accrual Required for Fargo Bank Rate Time Principal - Interest interest to be accrued in Your 1 15 Westions orspayed below! Tyrell Company entered into the following transactions involving short-term liabilities Year 1 April 20 Purchased $39.500 of merchandise on credit from Locust, terms w/30 May 19 Replaced the April 20 account payable to Locust with a 10-day, #. $35,000 note payable along with paying $2,500 local July 8 Borrowed 657,000 cash tron ak Bank by signing a 10-day, 11, 657,000 note payable Paid the amount due on the note to Loot the maturity date. Paid the amount due on the note to NUR Bank at the maturity date. November 20 Borrowed 521,000 cash from Fargo Bank by wigning a 60-day, 61, 621,000 note payable. December 31 Recorded an adjusting entry for acorved interest on the note to Pargo Bank Year 2 ces __ Paid the amount due on the note to Fargo Bank at the maturity date. Problem 9-1A (Algo) Part 4 4. Determine the interest expense recorded in Year 2. (Do not round intermediate calculations and round your final answers to nearest whole dollar. Use 360 days a year.) Year End Accrual Required for Fargo Bank Time Rate - Interest Principal % Interest to be recorded in Year 2 Step by Step Solution
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