prob 2

Problem 9-1A (Algo) Short-term notes payable transactions and entries LO P1 [The following information applies to the questions displayed below) Tyrell Co entered into the following transactions involving short term ltabilities. Year 1 Apr. 20 Purchased $36,5 of merchandise on Credit from Locust, terus 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 $65,000 cash from NSR Bank by signing a 120-day, 11%, 566.000 note payable. Paid the amount due on the note to Locust at the maturity date. Poid the amount due on the note to NBR Bank at the maturity date. Nov. 28 Borrowed $30,000 cash from Fargo Bank by signing a 60-day, x, 530,000 note payable Dec. 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank, Year 2 Paid the amount due on the note to Fargo Bank at the maturity date. Problem 9-1A (Algo) Part 2 2. Determine the interest due at maturity for each of the three notes (Do not round your intermediate calculations. Use 360 days year.) Time Interest Locust NBR Bank Fargo Bank Principal * Rate % X % x % X XX