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! Required Information Problem 9-1A (Algo) Short-term notes payable transactions and entries LO P1 [The following information applies to the questions displayed below.] Tyrell Co.
! Required Information Problem 9-1A (Algo) 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 $35,eee of merchandise on credit from Locust, terms n/30. May 19 Replaced the April 28 account payable to Locust with a 90-day, 8%, $35,eee note payable along with paying $e in cash. July 8 Borrowed $63,000 cash from NBR Bank by signing a 12e-day, 11%, $63,000 note payable. ? Paid the amount due on the note to Locust at the maturity date. _? Paid the amount due on the note to NBR Bank at the maturity date. Nov. 28 Borrowed $24,280 cash from Fargo Bank by signing a 60-day, 6%, $24,eee 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 9-1A (Algo) Part 5 5. Prepare journal entries for all the preceding transactions and events. (Do not round your Intermediate calculations.) View transaction list Journal entry worksheet Replaced the April 20 account payable to Locust with a 90-day, 8%, 535,000 note payable along with paying $0 in cash. Note: Enter debits before credits. Date General Journal Debit Credit May 10 View transaction list Journal entry worksheet Borrowed $63,000 cash from NBR Bank by signing a 120-day, 11%, $63,000 note payable. Note: Enter debits before credits. Date General Journal Debit Credit Jul 08 View transaction list Journal entry worksheet Paid the amount due on the note to Locust at the maturity date. Note: Enter debits before credits. Date General Journal Debit Credit Aug 17 5. Prepare journal entries for all the preceding transactions and events. (Do not round your Intermediate calculations.) View transaction list Journal entry worksheet Paid the amount due on the note to NBR Bank at the maturity date. Note: Enter debits before credits Date General Journal Debit Credit Nov 05 View transaction list Journal entry worksheet Borrowed $24,000 cash from Fargo Bank by signing a 60-day, 5%, $24,000 note payable. Note: Enter debits before credits. Date General Journal Debit Credit Nov 28 5. Prepare journal entries for all the preceding transactions and events. (Do not round your Intermediate calcul View transaction list Journal entry worksheet Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Note: Enter debits before credits. General Journal Debit Credit Date Dec 31 View transaction list Journal entry worksheet
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