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[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.

[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. 20 Purchased $40,250 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 10% annual interest along with paying $5,250 in cash.
July 8 Borrowed $80,000 cash from NBR Bank by signing a 120-day, 9% interest-bearing note with a face value of $80,000.
___?___ 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 $42,000 cash from Fargo Bank by signing a 60-day, 8% interest-bearing note with a face value of $42,000.
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:

2. Determine the interest due at maturity for each of the three notes.

Principle X Rate % X Time = Interest
Locust
NBR Bank
Fargo Bank

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