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 $39,500 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 8% annual interest along with paying $4,500 in cash. July 8 Borrowed $63,000 cash from NBR Bank by signing a 120-day, 12% interest-bearing note with a face value of $63,000. 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 $36,000 cash from Fargo Bank by signing a 60-day, 6% interest-bearing note with a face value of $36,000. 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. Journal entry worksheet Borrowed $36,000 cash from Fargo Bank by signing a 60-day, 6% interest bearing note with a face value of $36,000. Note: Enter debits before credits. Credit Date Nov 28, 2016 General Journal Cash Notes payable-Fargo Bank Debit 36,000 36,000 Record entry Clear entry View general journal 5.2 Prepare journal entries for all the preceding transactions and events for 2017. (Do not round your intermediate calculations.) View transaction list View journal entry worksheet No Credit Date Jan 27, 2017 Debit 36,000 1 General Journal Notes payable-Fargo bank Interest payable Interest expense Cash 7 Dec 31, 2016 360 X Interest expense Interest payable 360 X 5.2 Prepare journal entries for all the preceding transactions and events for 2017. (Do not round your intermediate calculations.) Answer is not complete. No Credit Date Jan 27, 2017 Debit 36,000 1 General Journal Notes payable-Fargo bank Interest payable Interest expense Cash