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question (9) please answer completely thank you for your help Problem 9-1A Short-term notes payable transactions and entries LO P1 Tihe folowing Information applies to
question (9) please answer completely thank you for your help
Problem 9-1A Short-term notes payable transactions and entries LO P1 Tihe folowing Information applies to the questions displayed below. Tyrell Co entered into the following transactions involving shon-term liabilities in 2014 and 2015 2014 Apr. 20 Purchaced $38,000 of merchandize on credit from Locust, terms are 110, n/30. Tyrell uzes the Mey ?9 Replaced the April 20 eccount peyeble to Locust with o 90-coy. S35.000 note beenng 8% onnual July 8 Borrowed $60,000 cash fom National Benk by signingt20.dey. 11% interest-bearing note with erpetual inventory system interest elong with paying $3,000 in cash. fece value of $60.000 --Poid the omoum due on the note to Locust at the maturity dete. Nov 28 Borrowed $33,000 cesh from Fargo Benk by signing 60-dey, 6% interest-bearing note with o Dec. 31 Recorded en odjusting entry for accrued interest on the note to Fargo Bank. Paid the amount due on the nate to Netionel Bank a: the maturity dete. face value of $33.000 d en ecjusting entry or 2015 Paid the amount due on the note to Fargo Bank at the maurity dlete Problem 9-1A Short term notes payable transactions and entries LO P Section Break 3.00 points Problem 9-1A Part 1 Required: 1. Determine the maturity date for each of the three notes described. Natl. Bank Fargo Maturity dateStep by Step Solution
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