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Required information Problem 9 - 1 A ( Algo ) Short - term notes payable transactions and entries LO P 1 Skip to question [

Required information
Problem 9-1A (Algo) Short-term notes payable transactions and entries LO P1
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[The following information applies to the questions displayed below.]
Tyrell Company entered into the following transactions involving short-term liabilities.
Year 1
April 20 Purchased $37,500 of merchandise on credit from Locust, terms n/30.
May 19 Replaced the April 20 account payable to Locust with a 90-day, 7%, $35,000 note payable along with paying $2,500 in cash.
July 8 Borrowed $69,000 cash from NBR Bank by signing a 120-day, 10%, $69,000 note payable.
__?question mark__ Paid the amount due on the note to Locust at the maturity date.
__?question mark__ Paid the amount due on the note to NBR Bank at the maturity date.
November 28 Borrowed $30,000 cash from Fargo Bank by signing a 60-day, 8%, $30,000 note payable.
December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank.
Year 2
__?question mark__ Paid the amount due on the note to Fargo Bank at the maturity date.
Problem 9-1A (Algo) Part 5
5. Prepare journal entries for all the preceding transactions and events.
Note: Do not round your intermediate calculations.

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