Problem 11-1A (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 $37,500 of merchandise on credit from Locust, terms n/30. July 8 Borrowed $57,009 cash from NBR Bank by signing a 120-day, 10\%, $57,000 note payable. ? - Paid the amount due on the note to Locust at the maturity date. November 28 Paid the amount due on the note to NBR Bank at the naturity date. December 31 Recorded an, 000 cash from Fargo Bank by signing a 60-day, 98 , $27,000 note payable. Year 2 -? Paid the amount due on the note to Fargo Bank at the maturity date. Problem 11-1A (Algo) Part 3 Determine the interest expense recorded in the adjusting entry at the end of Year 1 . lote: Do not round intermediate calculations and round your final answer to nearest whole dollar. Use 360 days a year. May 19 Replaced the April 20 account payable to Locust with a 90-day, 8\%, $35,000 note payable along with paying $2,500 in cash. July 8 Borrowed $57,080 cash from NBR Bank by signing a 120-day, 108, $57,000 note payable. -? Paid the anount due on the note to Locust at the maturity date. November ?28 Paid the atrount due on the note to NBR Bank at the maturity date. December 31 Recorded an adjust $27 from Fargo Bank by signing a 60-day, 98, $27,060 note payable. Year 2 -? Paid the amount due on the note to Fargo Bank at the maturity date. Problem 11-1A (Algo) Part 4 4. Determine the interest expense recorded in Year 2. Note: Do not round intermediate calculations and round your final answers to nearest whole dollar. Use 360 days a year. Tyrell Company entered into the following transactions involving short-term liabilities. Year 1 April 20 Purchased $37,500 of merchandise on credit from Locust, terms n/30. May 19 Replaced the April 20 account payable to Locust with a 90 day, 8%,$35,800 note payable along with paying $2,500 in cash. July 8 Borrowed $57,008 cash from NBR Bank by signing a 120-day, 108, $57,000 note payable. -? Paid the amount due on the note to Locust at the maturity date. November 7 Paid the amount due on the note to NBR Bank at the maturity date. Year 2 -? Paid the amount due on the note to Fargo Bank at the maturity date. roblem 11-1A (Algo) Part 5 Prepare journal entries for all the preceding transactions and events. ote: Do not round your intermediate calculations