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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 transactlons Involving short-term llabilitles. Year 1 April 20 Purchased $39,000 of merchandise on credit from Locust, terms /30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 8y, \$35,000 note payable along with paying $4,000 in cash. July 8 Borrowed $66,000 cash from NBR Bank by signing a 120 -day, 126,$66,000 note payable. - 3 - Faid 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. November 28 Borrowed $21,000 cash fram Pargo Bank by signing a 60-day, 7,$21,000 note payable. 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. 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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