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 $38,000 of merchandise on credit from Locust, term n/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 7%, $35,000 note payable along with paying $3,000 in cash. July 8 Borrowed $63,000 cash from NBR Bank by signing a 120-day, 12%, $63,000 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 $24,000 cash from Fargo Bank by signing a 60-day, 6%, $24,000 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. ces 5. Prepare journal entries for all the preceding transactions and events. (Do not round your Intermediate calculations.) View transaction list View journal entry worksheet Ne Date Debit 1 Apr 20 General Journal Merchandise inventory Accounts payable Locust 30.000 38.000 2 May 10 Accounts payable Locust Notes payable--Locust Cash Ju 8 Cash Notes payable NOR Bank S 4 Aug 17 Mes payable-loost sense 5 Now 05 psi-NOR Bank PI Tyne borot View transaction list View journal entry worksheet No Date General Journal Debit Credit Credit 1 Apr 20 38,000 Merchandise inventory Accounts payable-Locust 38,000 2 2 May 10 Accounts payable Locust Notes payable-Locust Cash 7 Jul 06 Cash Notes payable NBR Bank 7 Aug 17 Notes payable Locust Interest pense Cash 5 Nov 05 Notes payable NBR Bank Interest pense Cash Nov 28 Cash Notes payable Fargo Bank 2 Dec 31 Interestepense Interest payable Jan 22 Noles payable ---Fargo Bank Interest pense Purchased $38,000 of merchandise on credit from Locust, terms n/30. Replaced the April 20 account payable to Locust with a 90-day, 7%, $35,000 note payable along with paying $3,000 in cash. 3 Borrowed 563,000 cash from NBR Bank by signing a 120- day, 12%, $63,000 note payable. Paid the amount due on the note to Locust at the maturity date. 5 Paid the amount due on the note to NBR Bank at the maturity date. Note journal entry has been entered Paid the amount due on the note to Locust at the maturity date. 5 Paid the amount due on the note to NBR Bank at the maturity date. Borrowed 524,000 cash from Fargo Bank by signing a 60- day, 6%, $24,000 note payable. Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Paid the amount due on the note to Fargo Bank at the maturity date. Note : joumal ents