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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 Purchased $35,500
Required information (The following information applies to the questions displayed below.] Tyrell Company entered into the following transactions involving short-term liabilities. Year 1 Purchased $35,500 of merchandise on credit from Locust, terms April 20 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. Borrowed $57,000 cash from NBR Bank by signing a 120-day, 11%, July 8 $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. Borrowed $27,000 cash from Fargo Bank by signing a 60-day, 8%, November 28 $27,000 note payable. Recorded an adjusting entry for accrued interest on the note to December 31 Fargo Bank. Year 2 __?__ 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.) Principal X Rate X Time Interest Locust X % NBR Bank % x Fargo Bank % x
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