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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
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 Habilities Year 1 Apr 20 Purchased $36,500 of merchandise on credit from Locust, teres n/30. May 19 Replaced the Apel 20 account payable to Locust with # 90 day, 7%, 535,000 note payable stone with paying $1,500 in cash July 8 Borround $54,000 cash from NBR Bank by signing - 120-day, 10%, 554,000 note payable. 2 Paid the amount dort on the note to Locust at the maturity date. Pald the amount due on the note to SR Bank at the naturity date. Nov. 28 Borrowed $24,000 cash from Fargo Bank ty signing a 6-day, x, 524.000 pote payable Dec 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 Part 5 5. Prepare journal entries for all the preceding transactions and events (Do not round your intermediate calculations) View transaction list Journal entry worksheet 911 NA Required information View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 Purchased $36,500 of merchandise on credit from Locust, terms 1/30. Note: Enter debits before credits General Journal Debit Credit Date Apr 20 Record entry Clear entry View general journal
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