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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 Company entered
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 Company entered into the following transactions involving short-term liabilities. Year 1 Apri1 20 Purchased $36,000 of merchandise on eredit from tocunt, terms n/30. May 19 Replaced the April 20 account payable to Locust with a 90 -day, 83,$35,000 note payable along with paying $1,000 in eash. July 8 Borrowed $69,000 cash fron NBR Bank by signing a 120-day, 108, $69,000 note payable. - Paid the anount due on the note to Locust at the aturity date. November 7 Paid the asount dwe on the note to Nar Bank at the maturity date. December 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. Required information
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