PROBLEM SETA Tyrell Co. entered into the following transactions involving short-term liabilities in 2016 and 2017. 2016 Problem 11-1A Short term notes payable transactions and entries Apr. 20 Purchased $40.250 of merchandise on credit from Locust, terms n/30. Tyrell uses the perpe ual inventory system. Replaced the April 20 account payable to Locust with a 90-day. $35.000 annual interest along with paying $5,250 in cash. Borrowed $80,0XX) cash fromNBR Bank by signing a 120-day, 9% interest-bearing note with face value of $80,000. 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. Borrowed $4300 cash from Fargo Bank by face value of $42,000. Recorded an adjusting entry for accrued interest on the note to Fargo Bank. May 19 note bearing 10% P1 July 8 Nov. 28 Dec. 31 2017 signing a 60-day, 8% interest-bearing note with a Paid the amount due on the note to Fargo Bank at the maturity date. Required 1. Determine the maturity date for each of the three notes described. 2. Determine the interest due at maturity for each of the three notes. (Assume a 360-day year.) 3. Determine the interest expense to be recorded in the adjusting entry at the end of 2016. 4. Determine the interest expense to be recorded in 2017. 5. Prepare journa (2) Locust, $875 (3) $308 (4) $252 Check I entries for all the preceding transactions and events for years 2016 and 2017