The following information applies to the questions displayed below Tyrell Co entered into the following transactions involving short term liabilities in 2012 and 2013 2012 Apr 20 Purchased $37,500 of merchandise on credit from Locust, terms are 1 10, 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 7 annual interest along with paying $2,500 in cash July 8 Borrowed $60,000 cash from National Bank by signing a 120 day, 10 interest bearing note with a face value of $60,000 Paid the amount due on the note to Locust at the maturity date Paid the amount due on the note to National Bank at the maturity date Nov 28 Borrowed $21,000 cash from Fargo Bank by signing a 60 day, 7 interest bearing note with a face value of $21,000 Dec 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank 2013 Paid the amount due on the note to Fargo Bank at the maturity dat Determine the interest expense to be recorded in the adjusting entry at the end of 2012 Through maturity, and then interest to be acrrued in 2012 (Do not round your intermediate calculations Use 360 days a year ) (what is the rate x principal x time ) Determine the interest expense to be recorded in 2013 (Do not round your intermediate calculations Use 360 days a year ) find the total through maturity, interest to be accured in 2012 and 2013

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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 2012 and 2013. 2012 Apr.

[The following information applies to the questions displayed below.]

Tyrell Co. entered into the following transactions involving short-term liabilities in 2012 and 2013.

2012
Apr. 20	Purchased $37,500 of merchandise on credit from Locust, terms are 1/10, 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 7% annual interest along with paying $2,500 in cash.
July 8	Borrowed $60,000 cash from National Bank by signing a 120-day, 10% interest-bearing note with a face value of $60,000.
__?__	Paid the amount due on the note to Locust at the maturity date.
__?__	Paid the amount due on the note to National Bank at the maturity date.
Nov. 28	Borrowed $21,000 cash from Fargo Bank by signing a 60-day, 7% interest-bearing note with a face value of $21,000.
Dec. 31	Recorded an adjusting entry for accrued interest on the note to Fargo Bank.

2013

__?__

Paid the amount due on the note to Fargo Bank at the maturity dat

Determine the interest expense to be recorded in the adjusting entry at the end of 2012. Through maturity, and then interest to be acrrued in 2012? (Do not round your intermediate calculations. Use 360 days a year.) (what is the rate? x principal? x time?)

Determine the interest expense to be recorded in 2013. (Do not round your intermediate calculations. Use 360 days a year.) find the total through maturity, interest to be accured in 2012 and 2013.