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 540,000 of merchandise on credit from Locunt, termen/30. Tyzell uses the perpetual inventory system May 19 Replaced the April 20 account payable to locuit with a 90-day, 535,000 note bearing 95 annual interest along with paying 55.000 in cash July Borrowed $63,000 cash from NR Bank by signing a 120 day, 126 Interest-bearing note with a face value of $63, 000 Paid the amount due on the note to LoCut at the maturity date Paid the amount due on the note to Bank at the maturity date. Nov. 28 Borrowed $33,000 cash from Fargo Bank by signing a 60-day, 65 interest-bearing note with a face value of $33,000 Doc. 31. Recorded an adjusting entry for accrued interest on the note to Fargo Bank 2017 2 Paid the amount due on the note to Yargo Bank at the maturity date. 5.1 Prepare journal entries for all the preceding transactions and events for 2016. (Do not round your intermediate calculations.) Vie 40,000 Required information 40,000 1 Apr 20, 2016 Merchandise inventory Accounts payable ---Locust 40,000 35,000 5,000 2 May 19, 2016 Accounts payable-Locust Notes payable---Locust Cash 63,000 63,000 3 Jul 08 2016 Cash Notes payable-NBR Bank 4 Aug 17, 2016 Noles payable--Locust Interest expense Cash 5 Nov 05 2016 Notes payable-NBR Bank Interest expense Cash 6 Nov 28, 2016 Cash Notes payable--Fargo Bank 7 Dec 31, 2016 No Transaction Recorded Journal entry worksheet