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 $36,000 of merchandise on credit from Locust, terns n/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 81, $35,000 note payable along with paying $1,000 in cash. July 8 Borrowed $63,000 cash from NBR Bank by signing a 120-day, 110, $63,000 note payable. 2 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 $21,000 cash from Fargo Bank by signing a 60-day, 81, $21,000 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. 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.) Time Interest Principal Rate % % Locust NBR Bank Fargo Bank S 15 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 $36,000 of merchandise on credit from Locust, terms n/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 81, $35,000 note payable along with paying $1,000 in canh. July B Borrowed $63,000 cash from NBR Bank by signing a 120-day, 111, $63,000 note payable. 7 Paid the amount due on the note to Locust at the maturity date. Paid the amount due on the note to NBR Bank at the maturity date. November 28 Borrowed $21,000 cash from Fargo Bank by signing a 60-day, 88, $21,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Pargo 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.) Fargo Bank Year End Accrual Required for: Principal x Time Interest Rate % Interest to be accrued in Year 1 3 4 un 5 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 $36,000 of merchandise on credit from Locust, terms n/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 89, $35,000 note payable along with paying $1,000 in cash. July 8 Borrowed $63,000 cash from NBR Bank by signing a 120-day, 111, $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. November 28 Borrowed $21,000 cash from Fargo Bank by signing a 60-day, 88, $21,000 note payable. December 31 Recorded an adjusting entry for acerued Interest on the note to Fargo Bank. Year 2 7 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 Time Principal Rate Interest Interest to be recorded in Year 2 Journal entry worksheet > Replaced the April 20 account payable to Locust with a 90-day, 8%, $35,000 note payable along with paying $1,000 in cash. Note: Enter debits before credits. General Journal Debit Credit Date May 19 Record entry Clear entry View general journal Journal entry worksheet Borrowed $63,000 cash from NBR Bank by signing a 120-day, 11%, $63,000 note payable. Note: Enter debits before credits. Date General Journal Debit Credit July 08 Record entry Clear entry View general Journal S Journal entry worksheet Borrowed $21,000 cash from Fargo Bank by signing a 60-day, 8%, $21,000 note payable. Note: Enter debits before credits. Date General Journal Debit Credit November 28 Record entry Clear entry View general journal Journal entry worksheet Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Note: Enter debits before credits. General Journal Debit Credit Date December 31 Record entry Clear entry View general journal Journal entry worksheet 4 5 6 7 Paid the amount due on the note to Fargo Bank at the maturity date. Note: Enter debits before credits. General Journal Debit Credit Date January 27 Record entry Clear entry View general journal