Requlred Information [The following Information applles to the questions displayed below.j Tyrell Co. entered Into the following transactions Involving short-term liabilities In 2016 and 2017 2016 Apr. 20 Purchased $35,000 of merchandise on credit from Locust, terms n/30. Tyrell uses the perpetual inventory system. May 19 Replaced the April 20 account payable to Locust with a 90-day, $35,000 note bearing 8% annual interest along with paying $0 in cash July 8 Borrowed $66,000 cash from NBR Bank by signing a 120-day, 12% interest-bearing note with 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 a face value of $24,000 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. Required 1. Determine the maturity date for each of the three notes described Locust NBR Bank Fargo Bank Maturity date 2. Determine the Interest due at maturity for each of the three notes. (Do not round your Intermediate calculations. Use 360 days a year.) Principal x RatexTimeInterest Locust NBR Bank Fargo Bank 3. Determine the Interest expense to be recorded In the adjusting entry at the end of 2016. (Do not round your Intermedlate calculatlons. Use 360 days a year.) Year end accrual required for: Fargo Bank Principalx Rate xl Time |-| Interest Interest to be accrued in 2016 4. Determine the Interest expense to be recorded In 2017. (Do not round Intermedlate calculatlons and round your final answers to nearest whole dollar. Use 360 days a year.) Year end accrual required for: Fargo Bank Principalx Rate xl Time | =| Interest Interest to be recorded in 2017 5.1 Prepare journal entries for all the preceding transactions and events for 2016. (Do not round your Intermedlate calculatlons.) View transaction list Journal entry worksheet 4 Purchased $35,000 of merchandise on credit from Locust, terms n/30. Tyrell uses the perpetual inventory system. Note: Enter debits before credits. Date General Journal Debit Credit Apr 20, 2016 Record entry Clear entry View general journal 5.2 Prepare journal entries for all the preceding transactions and events for 2017.(Do not round your Intermedlate calculatlons.) 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