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Sed Required information Problem 9-1A (Algo) Short-term notes payable transactions and entries LO P1 {The following information applies to the questions displayed below) Tyrell Company entered into the following transactions involving short-term labilities. Year 1 April 20 Purchased 537.000 of merchandise on credit from Locust, terma n/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 71, 635,000 note payable along with paying $2,000 in cash July Borroved $66,000 cash from NSR Bank by signing a 120-day, 111, 566,000 note payable. Paid the amount due on the note to Locust at the maturity date. Paid the amount due on the note to NSR Bank at the maturity date. Movember 28 Borrowed $27,000 cash from Fargo Bank by signing a 60-day, 71, $27,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Yargo Bank. Year 2 __ Paid the amount due on the note to Targo Bank at the maturity date. Problem 9-1A (Algo) Part 1 Required: 1. Determine the maturity date for each of the three notes described. Locust NBR Bank Fargo Bank Maturity date Required information Problem 9-1A (Algo) Short-term notes payable transactions and entries LO P1 [The following information applies to the questions displayed below) Tyrell Company entered into the following transactions involving short-term flabilities Year 1 April 20 Purchased $37,000 of merchandise on credit from Locust, terns n/30. May 29 Replaced the April 20 account payable to Locust with a 90-day, 71, $35,000 note payable along with paying 32.000 in cash July Borroved 366,000 cash from NSR Bank by signing a 120-day, 110, $66,000 note payable. 7_Paid the amount due on the note to Locust at the maturity date. Paid the amount due on the note to NBR Bank at the maturity date. November 20 horroved $27,000 cash from Fargo Bank by signing a 60-day, 78. $27,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 _P_Taid the amount due on the note to Targo Bank at the naturity 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.) Principal Time Interest Locust NBR Bank Fargo Bank Rate O Required information Problem 9-1A (Algo) Short-term notes payable transactions and entries LO P1 The following information applies to the questions displayed below) Tyrell Company entered into the following transactions involving short-term liabilities Year 1 April 20 Purchased $37,000 of merchandise on credit from Locust, tern n/30. May 19 replaced the April 20 account payable to Locust with a 90-day, 71, $35,000 note payable along with paying $2,000 in canh July # borrowed 566,000 cash from NBR Bank by signing a 120-day, 111, 166,000 note payable. --- Paid the amount due on the note to Locust at the maturity date. _?Paid the amount due on the note to NBR Bank at the maturity date. November 28 Borrowed $27,000 cash from Fargo Bank by signing a 60-day, 71, $27,000 note payable. December 31 Recorded an adjusting entry for acerued interest on the note to Yargo Bank Year 2 __ Paid the amount due on the note to Targo Bank at the maturity 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 Principal Interest to be accrued in Yoar 1 Rate Time Interest 15 Required information Problem 9-1A (Algo) Short-term notes payable transactions and entries LO P1 {The following information applies the questions displayed below) Tyrell Company entered into the following transactions involving short-term liabilities. Year 1 April 20 Purchased 537,000 of merchandise on credit from Locust, terns n/30. May 19 Replaced the April 20 account payable to tocust with a 90-day, 71, $35,000 note payable along with paying $2,000 in cash July 3 borroved $66,000 cash from Nor Bank by signing a 120-day, 111, 566,000 note payable. Paid the amount due on the note to Locust at the maturity date. Paid the amount due on the note to MR Bank at the maturity date. November 28 Borroved $27,000 cash from Targo Bank by signing a 60-day, 78, $27,000 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 Targo 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 Principal Time Interest to be recorded in Year 2 Rate Interest