newcon P9-10 The January 1, Year 1 trial balance for the Garcia Company is found on the trial balance tab. The beginning balances are assumed. Turner Co. entered into the following transactions involving short-term liabilities. (Use 360 days a year) Year Apr. 20 Purchased $44,250 of merchandise on credit from Wright, terms n/30. May 19 Replaced the April 20 account payable to Wright with a 90-day, 124, $39,000 note payable along with paying $5,250 in cash. July 8 Borrowed $105,000 cash fron CDR Bank by signing a 120-day, 64, $105,000 note payable. Aug. 17 Paid the amount due on the note to Wright at the maturity date. Nov. 5 Paid the amount due on the note to CDR Bank at the maturity date. Nov. 28 Borrowed $66,000 cash from Rochester Bank by signing a 60-day, 109, $66,000 note payable. Dec. 31 Recorded an adjusting entry for accrued interest on the note to Rochester Bank. Year Jan. 27 Paid the amount due on the note to Rochester Bank at the maturity date. General General Trial Require Schedule Calculat... Year 2 Journal Ledger Balance of of payment Prepare the journal entries related to notes and accounts payable. Hint: Use the "Calculation of Interest" tab to ensure the accuracy of your entries. View transaction list Journal entry worksheet