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 $36,500 of merchandise on credit from Locust, terms n/30. 19 Replaced the April 20 account payable to Locust with a 90-day, 7%, $35, 000 note payable along with paying $1, 500 in cash. May July 8 Borrowed $63, 000 cash from NBR Bank by signing a 120-day, 11%, $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 $27, 000 cash from Fargo Bank by signing a 60-day, 7%, $27, 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. 5. Prepare journal entries for all the preceding transactions and events. (Do not round your intermediate calculations.) Required information |Notes payable-Locust Aug 17 35,000 4 Interest expense 700 Cash 35,700 Interest expense Nov 05 2,100 Notes payable-NBR Bank 63,000 Cash 65,100 27,000 6 Nov 28 Cash Notes payable-Fargo Bank 27,000 Interest expense 7 Dec 31 179 Interest payable 179 Interest expense Interest payable Notes payable-Fargo Bank Cash 137 Jan 27 27,000 LC