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[The following information applies to the questions displayed below.] Tyrell Co. entered into the following transactions involving short-term liabilities. Year 1 Apr. 20 Purchased $40,250
[The following information applies to the questions displayed below.] Tyrell Co. entered into the following transactions involving short-term liabilities. Year 1 Apr. 20 Purchased $40,250 of merchandise on credit from Locust, terms n/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 10% ] $35,000 note payable along with paying $5,250 in cash. July 8 Borrowed $80,000 cash from NBR Bank by signing a 120-day, 9%, $80,000 note payable. 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%, $42,000 note payable. Dec. 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. ? P Year 2 Paid the amount due on the note to Fargo Bank at the maturity date. Accounts payable-Locust Accrued payroll payable Bonus payable Cash Cost of goods sold Deferred income tax liability Earned services revenue Earned ticket revenue Employee benefits plan payable Employee bonus expense Employee fed. inc. taxes payable Employee life insurance payable Employee medical insurance payable Employee union dues payable Estimated warranty liability Federal unemployment taxes payable FICA-Medicare taxes payable FICA-Social sec. taxes payable Income taxes expense Income taxes payable Interest expense Interest payable Merchandise inventory Notes payable-Fargo Bank Notes payable-Locust Notes payable-NBR Bank Payroll taxes expense Repair parts inventory Salaries expense Salaries payable Sales Sales salaries expense Sales taxes payable State unemployment taxes payable Unearned services revenue Unearned ticket revenue Vacation benefits expense Vacation benefits payable Wages expense Purchased $40,250 of merchandise on credit from Locust, terms n/30. Jote: Enter debits before credits. Date General Journal Debit Credit Apr 20 40.250 40,250 Replaced the April 20 account payable to Locust with a 90-day, 10%, $35,000 note payable along with paying $5,250 in cash. Note: Enter debits before credits. Date General Journal Debit Credit May 19 Borrowed $80,000 cash from NBR Bank by signing a 120-day, 9%, $80,000 note payable. Note: Enter debits before credits. Date General Journal Debit Credit Jul 08 Paid the amount due on the note to Locust at the maturity date. Note: Enter debits before credits. Date General Journal Debit Credit Aug 17 Paid the amount due on the note to NBR Bank at the maturity date. Note: Enter debits before credits. Date General Journal Debit Credit Nov 05 Borrowed $42,000 cash from Fargo Bank by signing a 60-day, 8%, $42,000 note payable. Note: Enter debits before credits. Date General Journal Debit Credit Nov 28 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 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
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