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 $37,000 of merchandise on credit from tocust, terns n/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 7%, $35,000 note payable along with paying $2,000 in cash. July 8 Borrowed 566,000 cash from NBR Bank by signing a 120-day, 11%, $66,000 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, 9%, $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. 3. Determine the interest expense recorded in the adjusting entry at the end of Year 1. (Do not round your intermediate calculations. Use 360 days a year.) Year End Accrual Required For: Fargo Bank Time Principal X Rate Interest U band the maturity date. 3. Determine the interest expense recorded in the adjusting entry at the end of Year 1. (Do not round your inter Use 360 days a year.) Year End Accrual Required for: Fargo Bank Principal X Rate Interest Interest to be accrued in Year 1 CC. Paid the amount due on the note to NBR Bank at the maturity date. Nov. 28 Borrowed $39,800 cash from Fargo Bank by signing a 60-day, 9%, $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. 4. Determine the interest expense recorded in Year 2. (Do not round intermediate calculations and round your final nearest whole dollar. Use 360 days a year.) Year end accrual required for: Fargo Bank Principal X Rate Interest Interest to be recorded in Year 2 45 of 13 H Neyty > 1 6 6 0 Purchased $37,000 of merchandise on credit from Locust, terms n/30. Note: Enter debits before credits. Date Debit Credit Apr 20 General Journal Merchandise inventory Accounts payable--Locust Record entry Clear entry View general journal Required information * 6 6 6 6 6 Replaced the April 20 account payable to Locust with a 90-day, 7%, $35,000 note payable along with paying $2,000 in cash. Note: Enter debits before credits. Debit Credit Date May 19 General Journal Accounts payable-Locust [Notes payable_Locust Cash Racord entry LE Vierajouna Required information 0 0 * 4 6 6 0 Paid the amount due on the note to Locust at the maturity date. Note: Enter debits before credits Date Debit Credit Aug 1 General Journal Notes payable Locust Interest expense Cash Recon enty Vinjol NAY Required information
