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 $35,500 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 $500 in cash. July 8 Borrowed $54,000 cash from NBR Bank by signing a 120-day, 11, $54,000 note payable. 7 Paid the amount due on the note to Locust at the maturity date. Paid the amount due on the note to NDR Bank at the maturity date. November 20 Borrowed $27,000 cash from Fargo Bank by signing a 60-day, 6%, $27,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 2 Paid the amount due on the note to Fargo Bank at the maturity date. Required: 1. Determine the maturity date for each of the three notes described. Maturity date Locust NBR Bank Fargo Bank 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 $35,500 of merchandise on credit from Locust, terms n/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 88, $35,000 note payable along with paying $500 in cash. July 8 Borrowed $54,000 cash from NBR Bank by signing a 120-day, 118, $54,000 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. November 28 Borrowed $27,000 cash from Fargo Bank by signing a 60-day, 6%, $27,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 7 Paid the amount due on the note to Fargo Bank at the maturity date. 2. Determine the interest due at maturity for each of the three notes. (Do not round intermediate calculations and round your final answer to nearest whole dollar. Use 360 days a year.) Locust NBR Bank Fargo Bank Principal K Rate Time Interest x %x x % x x % x 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 $35,500 of merchandise on credit from Locust, terms n/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 88, $35,000 note payable along with paying $500 in cash. July 8 Borrowed $54,000 cash from NBR Bank by signing a 120-day, 118, $54,000 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. November 28 Borrowed $27,000 cash from Fargo Bank by signing a 60-day, 68, $27,000 note payable. December 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 intermediate calculations and round your final answer to nearest whole dollar. Use 360 days a year.) Year End Accrual Required For: Fargo Bank Principal x Rate Time Interest Interest to be accrued in Year 1 % 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 $35,500 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 $500 in cash. July 8 Borrowed $54,000 cash from NBR Bank by signing a 120-day, 11%, $54,000 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. November 20 Borrowed $27,000 cash from Fargo Bank by signing a 60-day, 6%, $27,000 note payable. December 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 answers to nearest whole dollar. Use 360 days a year.) Year End Accrual Required For: Fargo Bank Principal Rated Time Interest Interest to be recorded in Year 2 Required information Journal entry worksheet < 1 2 3 4 5 6 7 8 Purchased $35,500 of merchandise on credit from Locust, terms n/30. Note: Enter debits before credits. Date April 20 General Journal Debit Credit View general journal Record entry Clear entry Required information Journal entry worksheet < 2 3 4 5 6 7 8 Replaced the April 20 account payable to Locust with a 90-day, 8%, $35,000 note payable along with paying $500 in cash. Note: Enter debits before credits. Date May 19 General Journal Debit Credit View general journal Record entry Clear entry Required information Journal entry worksheet < 1 2 3 4 5 6 7 8 Borrowed $54,000 cash from NBR Bank by signing a 120-day, 11%, $54,000 note payable. Note: Enter debits before credits. Date July 08 General Journal Debit Credit Record entry Clear entry View general journal Required information Journal entry worksheet < 1 2 3 4 5 6 7 8 Paid the amount due on the note to Locust at the maturity date. Note: Enter debits before credits. Date August 17 General Journal Debit Credit Record entry Clear entry View general journal Required information Journal entry worksheet < 1 2 3 4 5 9 7 8 Paid the amount due on the note to NBR Bank at the maturity date. Note: Enter debits before credits. Date November 05 General Journal Debit Credit > Record entry Clear entry View general journal Required information Journal entry worksheet < 1 2 3 4 5 6 7 8 Borrowed $27,000 cash from Fargo Bank by signing a 60-day, 6%, $27,000 note payable. Note: Enter debits before credits. Date November 28 General Journal Debit Credit > Record entry Clear entry View general journal Required information Journal entry worksheet < 2 3 4 5 6 7 8 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Note: Enter debits before credits. Date December 31 General Journal Debit Credit Record entry Clear entry View general journal Required information Journal entry worksheet < 1 2 3 4 5 6 7 8 Paid the amount due on the note to Fargo Bank at the maturity date. Note: Enter debits before credits. Date January 27 General Journal Debit Credit Record entry Clear entry View general journal On January 8, the end of the first weekly pay period of the year, Regis Company's employees earned $24,760 of office salaries and $70,840 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $13,160 of federal income taxes, $1,420 of medical insurance deductions, and $940 of union dues. No employee earned more than $7,000 in this first period. Required: 1-3. Calculate below the amounts for each of these four taxes of Regis Company. Regis's state unemployment tax rate is 5.4% of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6%. 1-b. Prepare the journal entry to record Regis Company's January 8 employee payroll expenses and liabilities. 2. Prepare the journal entry to record Regis's employer payroll taxes resulting from the January 8 payroll. Regis's state unemployment tax rate is 5.4% of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6%. Complete this question by entering your answers in the tabs below. Req 1A Req 18 Req 2 Calculate below the amounts for each of these four taxes of Regis Company. Regis's state unemployment tax rate is 5.4% of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6%. (Round your answers to 2 decimal places.) Regis Company's: Tax January & Earnings Subject to Tax Tax Rate Tax Amount FICA-Social Security. FICA-Medicare FUTA SUTA Complete this question by entering your answers in the tabs below. Req 1A Req 18 Req 2 Prepare the journal entry to record Regis Company's January 8 employee payroll expenses and liabilities. (Round your answers to 2 decimal places.) View transaction list Journal entry worksheet < 1 Record the employee payroll expenses and liabilities for the first weekly pay period of the year. Note: Enter debits before credits. Date January 08 General Journal Debit Credit Req 1A Req 1B Req 2 Prepare the journal entry to record Regis's employer payroll taxes resulting from the January 8 payroll. Regis's state unemployment tax rate is 5.4% of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6%. (Round your answers to 2 decimal places.) View transaction list Journal entry worksheet < Record the employer's payroll expenses and liabilities for the first weekly pay period of the year. Note: Enter debits before credits Date January 08 General Journal Debit Credit