Required Informatlon [The following information applies to the questions displayed below Tyrell Co. entered into the following transactions involving short-term liabilities in 2016 and 2017 2016 Apr. 2e purchased $4e,2se of merchandise on credit from Locust, terms n/se. Tyrell uses the perpetual inventory May 19 Replaced the April 28 account payable to Locust with a 9e-day, s35,eee note bearing 1es annual interest along July 8 Borrowed $80,eee cash from NBR Bank by signing a 120-day, 9% interest-bearing note with a face value of ?--Paid the-nt due on the note to Locust at the maturity date. ey, 28 Borrowed $42,000 cash from Fargo Bank by signing a 60-day, 8% interest-bearing note with face value of Dec. 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank 2017 -?-Paid the mnt due on the note to Fargo Bank at the "aturity date. system with paying $5,25e in cash. $88,800 Paid the amount due on the note to NBR Bank at the maturity date. $42,800 5.1 Prepare journal entries for all the preceding transactions and events for 2016. View transaction list Journal entry worksheet 7 5 2 Purchased $40,250 of merchandise on credit from Locust, terms are n/30. Tyrell uses the perpetual inventory system. Note: Enter debits before credts. Ce Geveral Journal Date Apr 20, 2016 View general journal Clear entry Record entry to 2010 5.1 Prepare journal entries for all the preceding transactions and events View transaction list Journal entry worksheet 7 5 4 3 2 Replaced the April 20 account payable to Locust with a 90-day, $35,000 note bearing 10% annual interest along with paying S5.250 in cash. Note: Enter debits before credits. Debit General Journal Date May 19, 2016 View genercal joumal Clear entry Record entry 5.1 Prepare journal entries for all the preceding transations and events for 2016. View transaction list Journal entry worksheet Borrowed $80,000 cash from NBR Bank by signing a 120-day, 9% interest- bearing note with a face value of $80,000 Note: Enter debits before credits Debit Credit General Journal Date Jul 08, 2016 Clear entry View general journal Record entry 5.1 Prepare journal entries for all the preceding transactions and events for 2016. View transaction list Journal entry worksheet 7 5 2 Paid the amount due on the note to Locust at the maturity date. Note: Enter debits before credits. Cebit Credit Date Aug 17, 2016 View general journal Clear entry Record entry 5.1 Prepare journal entries for all the preceding transactions and events for 2016. View transaction list Journal entry worksheet Borrowed $42,000 cash from Fargo Bank by signing a 60-day, 8% interest. bearing note with a face value of $42,000. Note: Enter debits before credits. Debit Credit General Journal Date Nov 28, 2016 View general journal Clear entry Record entry I entries for all the preceding transactions and events for 2016. View transaction list Journal entry worksheet 7 5 6 2 Recorded an adjusting entry for accrued interest on the note to Fargo Bank Note: Enter debits before credits Date Dec 31, 2016 Clear entry Record entry
