! Required information [The following information applies to the questions displayed below.) Tyrell Co. entered into the following transactions involving short-term liabilities. Year 1 Apr. 20 Purchased $38,500 of merchandise on credit from Locust, terms n/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 8%, $35,000 note payable along with paying $3,500 in cash. July 8 Borrowed $57,000 cash from NBR Bank by signing a 120-day, 11%, $57,000 note payable. ? 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 $30,000 cash from Fargo Bank by signing a 60-day, 6%, $30,000 note 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. 5. Prepare journal entries for all the preceding transactions and events. (Do not round your intermediate calculations.) Answer is complete but not entirely correct. No Date General Journal Debit Credit 1 Apr 20 Merchandise inventory 38,500 3 Jul 08 Cash 57,000 Notes payable-NBR Bank 57,000 4 Aug 17 613 x Interest expense Notes payable-Locust Cash 35,000 35,613 5 Nov 05 Interest expense Notes payable-NBR Bank Cash 1,980 X 54,000 55.980 6 Nov 28 30,000 Cash Notes payable-Fargo Bank 30,000 7 Dec 31 198 Interest expense Interest payable 198 8 Jan 27 Interest expense Notes payable-Fargo Bank Interest payable Cash 162 X 36,000 X 198 36,350 Launchpad