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! Required information Problem 9 - 1 A ( Static ) Short - term notes payable transactions and entries LO P 1 [ The following
Required information
Problem A Static Shortterm notes payable transactions and entries LO P
The following information applies to the questions displayed below.
Tyrell Company entered into the following transactions involving shortterm liabilities.
Year
April Purchased $ of merchandise on credit from Locust, terms
May Replaced the April account payable to Locust with a day, $ note payable along with paying $ in cash.
July Borrowed $ cash from NBR Bank by signing a day, $ note payable.
Paid the amount due on the note to Locust at the maturity date. December Recorded an adjusting entry forgo Bank by signing a day, $ note payable.
Year
Paid the amount due on the note to Fargo Bank at the maturity date.
Problem A Static Part
Determine the interest due at maturity for each of the three notes.
Note: Do not round your intermediate calculations. Use days a year.
tablePrincipal,Rate,Time,InterestLocustNBR Bank,,Fargo Bank,,
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