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KQuestions 1-5 (of 7 The following information applies to the questions displayed below.) Tyrell Co. entered into the following transactions involving short-term liabilities in 2014

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KQuestions 1-5 (of 7 The following information applies to the questions displayed below.) Tyrell Co. entered into the following transactions involving short-term liabilities in 2014 and 2015. 2014 Apr 20 Purchased $36,000 of merchandise on credit from Locust, terms are 1/10, n30. Tyrell uses the May 19 Replaced the April 20 account payable to Locust with a 90-day, $35,000 note bearing 9% annual July 8 Borrowed $60,000 cash from National Bank by signing a 120-day, 12% interest-bearing note with a perpetual inventory system. interest along with paying $1,000 in cash. face value of $60,000. ? Paid the amount due on the note to Locust at the maturity date. ? Paid the amount due on the note to National Bank at the maturity date. Nov. 28 Borrowed $36,000 cash from Fargo Bank by signing a 60-day, 9% interest-bearing note with a face value of $36,000 Dec. 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. ? Paid the amount due on the note to Fargo Bank at the maturity date. value

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