Problem 9-1A 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 liabilities in 2016 and 2017 2016 Apr. 20 Purchased $35, 500 of merchandise on credit from Locust, terms n/30. Tyrell uses the perpetual inventory system. May 19 Replaced the April 20 account payable to Locust with a 90- day. $35,000 note bearing 95 annual interest along with paying $500 in cash. July 8 Borrowed $63,000 cash from NBR Bank by signing a 120-day, 124 interest-bearing note with a face value of $63,000. 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. Nov. 28 Borrowed $27.000 cash from Fargo Bank by signing a 60-day. 96 interest-bearing note with a face value of $27,000. Dec. 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. 2017 Paid the amount due on the note to Fargo Bank at the maturity date. Problem 9-1A Part 5 5.1 Prepare journal entries for all the preceding transactions and events for 2016 (Do not round your Intermediate calculations.) Purchased $35,500 of merchandise on credit from Locust, terms n/30. Tyrell uses the perpetual Inventory system. 2 Replaced the April 20 account payable to Locust with a 90-day, $35,000 note bearing 9% annual interest along with paying $500 in cash. 5 Paid the amount due on the note to NBR Bank at the maturity date. 6 Borrowed $63,000 cash from NBR Bank by signing a 120- day. 12% interest-bearing note with a face value of $63,000. Borrowed $27,000 cash from Fargo Bank by signing a 60- day, 9% Interest-bearing note with a face value of $27.000 Paid the amount due on the note to Locust at the maturity date. Recorded an adjusting entry for accrued interest on the note to Fargo Bank ENGLISH (UNITED STATES)