The January $1,$ Year $1$ trial balance for the Wright Company is found on the trial balance tab. The beginning balances are assumed.

Wright Company entered into the following transactions involving short$-$term liabilities.

Note: Use $360$ days a year.

Year $1$

April $20$ Purchased $$49,250$ of merchandise on credit from Walsh, terms $\frac{n}{30}.$

May $19$ Replaced the April $20$ account payable to Walsh with a $90-$day, $148,$ $$37,000$ note payable along with paying $$12,250$ in cash.

July $8$ Borrowed $$99,000$ cash from NJR Bank by signing a $120-$day, $98,$$$99,000$ note payable.

August $17$ Paid the amount due on the note to Walsh at the maturity date.

November $5$ Paid the amount due on the note to NJR Bank at the maturity date.

November $28$ Borrowed $$57,000$ cash from Fargo Bank by signing a $60-$day, $8\%,$$$57,000$ note payable.

December $31$ Recorded an adjusting entry for accrued interest on the note to Fargo Bank.

Year $2$

January $27$ Paid the amount due on the note to Fargo Bank at the maturity date.