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Required Informatlon The following Information applies to the questions displayed below Tyrell Co. entered Into the following transactions Involving short-term liablities In 2016 and 2017.
Required Informatlon The following Information applies to the questions displayed below Tyrell Co. entered Into the following transactions Involving short-term liablities In 2016 and 2017. 2016 Apr. 20 Purchased $35,000 of merchandise on credit from Locust, terms n/30. Tyrell uses the May 19 Replaced the April 20 account payable to Locust with a 90-day, $35,000 note bearing 8% July 8 Borrowed $66,000 cash from NBR Bank by signing a 120-day, 12% interest-bearing note with perpetual inventory system annual interest along with paying $0 in cash a face value of $66,000. 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, 8% interest-bearing note with Dec. 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank 2017 ?-Paid the amount due on the note to Fargo Bank at the maturity date. a face value of $24,000 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. 5 6 Borrowed $24,000 cash from Fargo Bank by signing a 60 day, 8% interest-bearing note with a face value of $24,000 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. 7 Note:journal entry has been entered 5.2 Prepare journal entries for all the preceding transactions and events for 2017. (Do not round your Intermediate c View transaction list Journal entry worksheet Paid the amount due on the note to Fargo Bank at the maturity date. Note: Enter debits before credits. Date General Journal Debit Credit Jan 27, 2017 Record entry Clear entry View general journal
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