Please help!!! GL P 90-1a

The January 1, Year 1 trial balance for the Collins Company is found on the trial balance tab. The beginning balances are assumed. Collins Company entered into the following transactions involving short-term liabilities. Note: Use 360 days a year. Year 1 April 20 Purchased $52,250 of merchandise on credit from Lewis, terms n/30. May 19 Replaced the April 20 account payable to Lewis with a 90 -day, 12%, $39,000 note payable along with paying $13,250 in cash. July 8 Borrowed $117,000 cash from NYR Bank by signing a 120-day, 9%,$117,000 note payable. August 17 Paid the amount due on the note to Lewis at the maturity date. November 5 Paid the amount due on the note to NYR Bank at the maturity date. November 28 Borrowed $75,000 cash from Fargo Bank by signing a 60 -day, 8%,$75,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 January 27 Paid the amount due on the note to Fargo Bank at the maturity date. General Journal tab - Journalize the transactions related to the notes and accounts payable of Collins Company. The General Ledger, Trial Balance and Schedule of Payables will be updated based on your entries. General Ledger tab - One of the advantages of general ledger software is that posting is done automatically. To see the detail of all transactions that affect a specific account, or the balance in an account at a specific point in time, click on the General Ledger tab. Trial Balance tab - General ledger software also automates the preparation of trial balances. A trial balance lists each account from the General Ledger, along with its balance, either a debit or a credit. Total debits should always equal total credits. Calculation of interest tab - Use the interest formula (PRT) to verify the amount of interest recorded in your entries. Verify that total interest expense agrees with the trial balance. Year 2 payment tab - Prepare the January 27, Year 2 entry to record the repayment of the note at maturity. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 January 27 Paid the amount due on the note to Fargo 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. Journal entry worksheet 234567> April 20. Purchased $52,250 of merchandise on credit from Lewis, terms n/30. Note: Enter debits before credits. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 January 27 Paid the amount due on the note to Fargo 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. Journal entry worksheet 5 6 7 > May 19. Replaced the April 20 account payable to Lewis with a 90 -day, 12%, $39,000 note payable along with paying $13,250 in cash. Note: Enter debits before credits. Year 2 January 27 Paid the amount due on the note to Fargo 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. Journal entry worksheet 567 July 8. Borrowed $117,000 cash from NYR Bank by signing a 120 -day, 9%, $117,000 note payable. Note: Enter debits before credits. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 panuary 27 Paid the amount due on the note to Fargo 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. Journal entry worksheet 7 August 17. Paid the amount due on the note to Lewis at the maturity date. Note: Enter debits before credits. Year 2 January 27 Paid the amount due on the note to Fargo 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. Journal entry worksheet 1 2 3 7 November 5. Paid the amount due on the note to NYR Bank at the maturity date. Note: Enter debits before credits. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 January 27 Paid the amount due on the note to Fargo 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. Journal entry worksheet 123 7 November 28 . Borrowed $75,000 cash from Fargo Bank by signing a 60-day, 8%,$75,000 note payable. Note: Enter debits before credits. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 January 27 Paid the amount due on the note to Fargo 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. Journal entry worksheet December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Note: Enter debits before credits. Year 1 April 20 Purchased $52,250 of merchandise on credit from Lewis, terms n/30. May 19 Replaced the April 20 account payable to Lewis with a 90 -day, 12%, $39, 000 note payable along with paying $13,250 in cash. July 8 Borrowed $117,000 cash from NYR Bank by signing a 120 -day, 9%,$117,000 note payable. August 17 Paid the amount due on the note to Lewis at the maturity date. November 5 Paid the amount due on the note to NYR Bank at the maturity date. November 28 Borrowed $75,000 cash from Fargo Bank by signing a 60 -day, 8%, $75,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 panuary 27 Paid the amount due on the note to Fargo Bank at the maturity date. General Ledger Account Year 1 April 20 Purchased $52,250 of merchandise on credit from Lewis, terms n/30. May 19 Replaced the April 20 account payable to Lewis with a 90 -day, 12%, $39,000 note payable along with paying $13,250 in cash. July 8 Borrowed $117,000 cash from NYR Bank by signing a 120 -day, 9%,$117,000 note payable. August 17 Paid the amount due on the note to Lewis at the maturity date. November 5 Paid the amount due on the note to NYR Bank at the maturity date. November 28 Borrowed $75,000 cash from Fargo Bank by signing a 60 -day, 8%, $75,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 January 27 Paid the amount due on the note to Fargo Bank at the maturity date. No input required. Year 2020 represents Year 1 from the problem statement. Year 1 April 20 Purchased $52,250 of merchandise on credit from Lewis, terms n/30. May 19 Replaced the April 20 account payable to Lewis with a 90 -day, 12%, $39, 000 note payable along with paying $13,250 cash. July 8 Borrowed $117,000 cash from NYR Bank by signing a 120-day, 9%,$117,000 note payable. August 17 Paid the amount due on the note to Lewis at the maturity date. November 5 Paid the amount due on the note to NYR Bank at the maturity date. November 28 Borrowed $75,000 cash from Fargo Bank by signing a 60 -day, 8\%, $75,000 note payable. pecember 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 Panuary 27 Paid the amount due on the note to Fargo Bank at the maturity date. Here are the balances in Accounts and Notes payable based on your journal entries: Year 1 April 20 Purchased $52,250 of merchandise on credit from Lewis, terms n/30. May 19 Replaced the April 20 account payable to Lewis with a 90 -day, 12%, $39,000 note payable along with paying $13,250 cash. July 8 Borrowed $117,000 cash from NYR Bank by signing a 120-day, 9%,$117,000 note payable. August 17 Paid the amount due on the note to Lewis at the maturity date. November 5 Paid the amount due on the note to NYR Bank at the maturity date. November 28 Borrowed $75,000 cash from Fargo Bank by signing a 60 -day, 8%, $75, 000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 January 27 Paid the amount due on the note to Fargo Bank at the maturity date. Prepare the January 27, Year 2 journal entry to record the payment of the Fargo note at maturity. Collins Company does NOT prepare reversing entries. The January 1, Year 1 trial balance for the Collins Company is found on the trial balance tab. The beginning balances are assumed. Collins Company entered into the following transactions involving short-term liabilities. Note: Use 360 days a year. Year 1 April 20 Purchased $52,250 of merchandise on credit from Lewis, terms n/30. May 19 Replaced the April 20 account payable to Lewis with a 90 -day, 12%, $39,000 note payable along with paying $13,250 in cash. July 8 Borrowed $117,000 cash from NYR Bank by signing a 120-day, 9%,$117,000 note payable. August 17 Paid the amount due on the note to Lewis at the maturity date. November 5 Paid the amount due on the note to NYR Bank at the maturity date. November 28 Borrowed $75,000 cash from Fargo Bank by signing a 60 -day, 8%,$75,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 January 27 Paid the amount due on the note to Fargo Bank at the maturity date. General Journal tab - Journalize the transactions related to the notes and accounts payable of Collins Company. The General Ledger, Trial Balance and Schedule of Payables will be updated based on your entries. General Ledger tab - One of the advantages of general ledger software is that posting is done automatically. To see the detail of all transactions that affect a specific account, or the balance in an account at a specific point in time, click on the General Ledger tab. Trial Balance tab - General ledger software also automates the preparation of trial balances. A trial balance lists each account from the General Ledger, along with its balance, either a debit or a credit. Total debits should always equal total credits. Calculation of interest tab - Use the interest formula (PRT) to verify the amount of interest recorded in your entries. Verify that total interest expense agrees with the trial balance. Year 2 payment tab - Prepare the January 27, Year 2 entry to record the repayment of the note at maturity. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 January 27 Paid the amount due on the note to Fargo 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. Journal entry worksheet 234567> April 20. Purchased $52,250 of merchandise on credit from Lewis, terms n/30. Note: Enter debits before credits. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 January 27 Paid the amount due on the note to Fargo 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. Journal entry worksheet 5 6 7 > May 19. Replaced the April 20 account payable to Lewis with a 90 -day, 12%, $39,000 note payable along with paying $13,250 in cash. Note: Enter debits before credits. Year 2 January 27 Paid the amount due on the note to Fargo 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. Journal entry worksheet 567 July 8. Borrowed $117,000 cash from NYR Bank by signing a 120 -day, 9%, $117,000 note payable. Note: Enter debits before credits. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 panuary 27 Paid the amount due on the note to Fargo 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. Journal entry worksheet 7 August 17. Paid the amount due on the note to Lewis at the maturity date. Note: Enter debits before credits. Year 2 January 27 Paid the amount due on the note to Fargo 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. Journal entry worksheet 1 2 3 7 November 5. Paid the amount due on the note to NYR Bank at the maturity date. Note: Enter debits before credits. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 January 27 Paid the amount due on the note to Fargo 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. Journal entry worksheet 123 7 November 28 . Borrowed $75,000 cash from Fargo Bank by signing a 60-day, 8%,$75,000 note payable. Note: Enter debits before credits. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 January 27 Paid the amount due on the note to Fargo 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. Journal entry worksheet December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Note: Enter debits before credits. Year 1 April 20 Purchased $52,250 of merchandise on credit from Lewis, terms n/30. May 19 Replaced the April 20 account payable to Lewis with a 90 -day, 12%, $39, 000 note payable along with paying $13,250 in cash. July 8 Borrowed $117,000 cash from NYR Bank by signing a 120 -day, 9%,$117,000 note payable. August 17 Paid the amount due on the note to Lewis at the maturity date. November 5 Paid the amount due on the note to NYR Bank at the maturity date. November 28 Borrowed $75,000 cash from Fargo Bank by signing a 60 -day, 8%, $75,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 panuary 27 Paid the amount due on the note to Fargo Bank at the maturity date. General Ledger Account Year 1 April 20 Purchased $52,250 of merchandise on credit from Lewis, terms n/30. May 19 Replaced the April 20 account payable to Lewis with a 90 -day, 12%, $39,000 note payable along with paying $13,250 in cash. July 8 Borrowed $117,000 cash from NYR Bank by signing a 120 -day, 9%,$117,000 note payable. August 17 Paid the amount due on the note to Lewis at the maturity date. November 5 Paid the amount due on the note to NYR Bank at the maturity date. November 28 Borrowed $75,000 cash from Fargo Bank by signing a 60 -day, 8%, $75,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 January 27 Paid the amount due on the note to Fargo Bank at the maturity date. No input required. Year 2020 represents Year 1 from the problem statement. Year 1 April 20 Purchased $52,250 of merchandise on credit from Lewis, terms n/30. May 19 Replaced the April 20 account payable to Lewis with a 90 -day, 12%, $39, 000 note payable along with paying $13,250 cash. July 8 Borrowed $117,000 cash from NYR Bank by signing a 120-day, 9%,$117,000 note payable. August 17 Paid the amount due on the note to Lewis at the maturity date. November 5 Paid the amount due on the note to NYR Bank at the maturity date. November 28 Borrowed $75,000 cash from Fargo Bank by signing a 60 -day, 8\%, $75,000 note payable. pecember 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 Panuary 27 Paid the amount due on the note to Fargo Bank at the maturity date. Here are the balances in Accounts and Notes payable based on your journal entries: Year 1 April 20 Purchased $52,250 of merchandise on credit from Lewis, terms n/30. May 19 Replaced the April 20 account payable to Lewis with a 90 -day, 12%, $39,000 note payable along with paying $13,250 cash. July 8 Borrowed $117,000 cash from NYR Bank by signing a 120-day, 9%,$117,000 note payable. August 17 Paid the amount due on the note to Lewis at the maturity date. November 5 Paid the amount due on the note to NYR Bank at the maturity date. November 28 Borrowed $75,000 cash from Fargo Bank by signing a 60 -day, 8%, $75, 000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 January 27 Paid the amount due on the note to Fargo Bank at the maturity date. Prepare the January 27, Year 2 journal entry to record the payment of the Fargo note at maturity. Collins Company does NOT prepare reversing entries