! Required information Problem 9-1A 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 in 2016 and 2017 2016 Apr. 20 Purchased $39,0e0 of merchandise on credit from Locust, terms n/30. Tyrell uses the perpetual inventory system. May 19 Replaced the April 20 account payable to Locust with a 90-day, $35,000 note bearing 8% annual interest along with paying $4,e0e in cash. 8 Borrowed $57,000 cash from NBR Bank by signing $57,000. Paid the amount due on the note to tocust at the maturity date. Paid the anount due on the note to NBR Bank at the maturity date. July a 120-day, 11% interest-bearing note with a face value of Nov. 28 Borrowed $24,000 cash from Fargo Bank by signing a 60-day, 6% interest-bearing note with a face value of $24,000. Dec. 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank 2017 Paid the amount due on the note to Fargo Bank at the naturity date. Problem 9-1A Part 1 Required: 1. Determine the maturity date for each of the three notes described. NBR Bank Locust Fargo Bank Maturity date Required information Problem 9-1A 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 liablities in 2016 and 2017 2016 Apr. 20 Purchased $39,000 of merchandise on credit from Locust, terms n/30. Tyrell uses the perpetual inventory system. May 19 Replaced the April 20 account payable to Locust with a 90-day, $35,000 note bearing sx annual interest along with paying $4,e00 in cash. July 8 Borrowed $57,000 cash from NBR Bank by signing a 120-day, 11% interest-bearing note with a face value of $57,000. 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 $24,000. sh fron Fargo Bank by signing a 60-day, 6% interest-bearing note with a face value of ,000 Dec. 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. 2017 Paid the amount due on the note to Fargo Bank at the maturity date. Problem 9-1A Part 2 2. Determine the interest due at maturity for each of the three notes. (Do not round your intermediate calculations. Use 360 days a year.) Principal Rate Time Interest Locust % x % NBR Bank Fargo Bank