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O Required information [The following information applies to the questions displayed below.) Tyrell Co. entered into the following transactions involving short-term liabilities. Year 1 Apr.
O Required information [The following information applies to the questions displayed below.) Tyrell Co. entered into the following transactions involving short-term liabilities. Year 1 Apr. 20 Purchased 536,500 of merchandise on credit from Locust, term n/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 9%, $35,000 note payable along with paying $1,500 in cash. July 8 Borrowed $54,000 cash from NR Bank by signing a 120-day, 113, 154,000 note payable Pald the amount due on the note to Locust at the maturity date. Pald the amount due on the note to NER Bank at the maturity date. Nov. 28 Borrowed $24,000 cash fron Fargo Bank by signing 60-day, 7%, $24,000 note payable Dec. 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank Year 2 Pald the amount due on the note to Fargo Bank at the maturity date. Required: 1. Determine the maturity date for each of the three notes described Locust NER Bank Fargo Bank Maturity date
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