The January 1, Year 1 trial balance for the Hall Company is found on the trial balance tab. The beginning balances are assumed. Walsh Company entered into the following transactions involving short-term liabilities. (Use 360 days a year.) Year 1

April 20	Purchased $47,250 of merchandise on credit from Collins, terms n/30.
May 19	Replaced the April 20 account payable to Collins with a 90-day, 12%, $37,000 note payable along with paying $10,250 in cash.
July 8	Borrowed $87,000 cash from NBR Bank by signing a 120-day, 6%, $87,000 note payable.
August 17	Paid the amount due on the note to Collins at the maturity date.
November 5	Paid the amount due on the note to NBR Bank at the maturity date.
November 28	Borrowed $45,000 cash from Rochester Bank by signing a 60-day, 8%, $45,000 note payable.
December 31	Recorded an adjusting entry for accrued interest on the note to Rochester Bank.

Year 2

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