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 $38,500 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 7% annual interest along with paying $3,500 in cash. July 8 Borrowed $66,000 cash from NBR Bank by signing a 120-day, 11% interest-bearing note with a face value of $66,000. 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 $33,000 cash from Fargo Bank by signing a 60-day, 7% interest-bearing note with a face value of $33,000. 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 5 5.1 Prepare journal entries for all the preceding transactions and events for 2016. (Do not round your intermediate calculations.) View transaction list View journal entry worksheet ni Prenare inurnal entries for all the nrerenin transactions an event Tor 0'in nin not runnvour intermonato Cairnarinni Required information View transaction TIST view journal entry worksheet No Date General Journal Debit Credit 1 Apr 20, 2016 38,500 Merchandise inventory Accounts payable Locust 38,500 2 May 19, 2016 38,500 Accounts payable-Locust Cash 3,500 Notes payableLocust 35,000 3 Jul 08, 2016 Cash 66,000 Notes payable-NBR Bank 66,000 4 Aug 17, 2016 Notes payable-Locust 35,000 Interest expense 875 Cash 35,875 c 5 Nov 05, 2016 Notes payable NBR Bank Interest expense Cash 5.2 Prepare journal entries for all the preceding transactions and events for 2017. (Do not round your intermediate calculations.) View transaction list Journal entry worksheet 1 > Paid the amount due on the note to Fargo Bank at the maturity date. Note: Enter debits before credits. Date General Journal Debit Credit Jan 27, 2017 Record entry Clear entry View general journal