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! Required information [The following information applies to the questions displayed below.] Tyrell Company entered into the following transactions involving short-term liabilities. Year 1 April
! Required information [The following information applies to the questions displayed below.] Tyrell Company entered into the following transactions involving short-term liabilities. Year 1 April 20 Purchased $37,000 of merchandise on credit from Locust, terms n/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 9%, $35,000 note payable along with paying $2,000 in cash. July 8 3- _?__ November 28 Borrowed $24,000 cash from Fargo Bank by signing a 60-day, 8 %, $24,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 Borrowed $60,000 cash from NBR Bank by signing a 120-day, 11%, $60,000 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. ________ Paid the amount due on the note to Fargo Bank at the maturity date.` Locust NBR Bank Fargo Bank 2. Determine the interest due at maturity for each of the three notes. Note: Do not round intermediate calculations and round your final answer to nearest whole dollar. Use 360 days a year. Principal x x X X X Rate X % x % x % x Time Interest
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