Record each journal entry.

transaction list 1. Purchased $38,000 of merchandise on credit from Locust, terms are 1/10, 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 8% annual interest along with paying $3,000 n cash. 3. Borrowed $69,000 cash from National Bank by signing a 120-day, 12% interest-bearing note with a face value of $69,000. 4. Paid the amount due on the note to Locust at the maturity date. 5. Paid the amount due on the note to National Bank at the maturity date. 6. Borrowed $27,000 cash from Fargo Bank by signing a 60-day, 8% interest-bearing note with a face value of $27,000. 7. Recorded an adjusting entry for accrued interest on the note to Fargo Bank