Required information Problem 11-1A 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 Year 1 Apr. 20 Purchased 538,500 of merchandise on credit from Locust, teras n/30. May 19 Replaced the April 20 account payable to Locust with a 90 day, 8%, $35,000 note payable along with paying $3,500 in cash. July 3 Borrowed 554,000 cash from NBR Bank by signing a 120-day, 12%, 554,000 note payable. _ Paid the amount due on the note to Locust at the saturity date. 2 Paid the amount due on the note to NBR Bank at the saturity date. Nov. 28 Borrowed $27,000 cash from Fargo Bank by signing 60-day, 6, 527,000 note payable. Dec. 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 _ Paid the amount due on the note to Fargo Bank at the maturity date. Problem 11-1A Part 2 2. Determine the interest due at maturity for each of the three notes. (Do not round your intermediate calculations. Use 360 days a year.) X X Rate R Time - Interest Locust NBR Bank Fargo Bank Principal TS 35 000 $ 54 000 $ 27.000