The January 1, Year 1 trial balance for the Lewis Company is found on the trial balance tab. The beginning balances are assumed. Lewis Company entered into the following transactions involving short-term liabilities. Note: Use 360 days a year. Year 1 April 20 Purchased $42,750 of merchandise on credit from Griffin, terms n/30. May 19 Replaced the April 20 account payable to Griffin with a 90-day, 12\%, $36,000 note payable along with paying $6,750 in cash. July 8 Borrowed $96,000 cash from NMR Bank by signing a 120-day, 6\%, $96,000 note payable. August 17 Paid the amount due on the note to Griffin at the maturity date. November 5 Paid the amount due on the note to NMR Bank at the maturity date. November 28 Borrowed $57,000 cash from Austin Bank by signing a 60 -day, 8\%, $57,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Austin Bank. Year 2 January 27 Paid the amount due on the note to Austin Bank at the maturity date. Prepare the January 27, Year 2 journal entry to record the payment of the Austin note at maturity. Lewis Company does NOT prepare reversing entries. Lewis Company entered into the following transactions involving short-term liabilities. Note: Use 360 days a year. Year 1 April 20 Purchased $42,750 of merchandise on credit from Griffin, terms n/30. May 19 Replaced the April 20 account payable to Griffin with a 90-day, 12\%, $36,000 note payable along with paying $6,750 in cash. July 8 Borrowed $96,000 cash from NMR Bank by signing a 120-day, 6%, $96,000 note payable. August 17 Paid the amount due on the note to Griffin at the maturity date. November 5 Paid the amount due on the note to NMR Bank at the maturity date. November 28 Borrowed $57,000 cash from Austin Bank by signing a 60 -day, 8\%, $57,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Austin Bank. Year 2 January 27 Paid the amount due on the note to Austin Bank at the maturity date. Enter the principal amount, interest rate, and number of days of interest to be recorded for each note. Verify that interest expense agrees with your journal entries and the trial balance. The January 1, Year 1 trial balance for the Lewis Company is found on the trial balance tab. The beginning balances are assumed. Lewis Company entered into the following transactions involving short-term liabilities. Note: Use 360 days a year. Year 1 April 20 Purchased $42,750 of merchandise on credit from Griffin, terms n/30. May 19 Replaced the April 20 account payable to Griffin with a 90 -day, 12%, $36,000 note payable along with paying $6,750 in cash. July 8 Borrowed $96,000 cash from NMR Bank by signing a 120-day, 6\%, $96,000 note payable. August 17 Paid the amount due on the note to Griffin at the maturity date. November 5 Paid the amount due on the note to NMR Bank at the maturity date. November 28 Borrowed $57,000 cash from Austin Bank by signing a 60 -day, 8%,$57,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Austin Bank. Year 2 January 27 Paid the amount due on the note to Austin Bank at the maturity date. Prepare the journal entries related to notes and accounts payable. Hint: Use the "Calculation of Interest" tab to ensure the accuracy of your entries. Journal entry worksheet \begin{tabular}{lllll} 4 & 5 & 6 & 7 & > \end{tabular} April 20. Purchased $42,750 of merchandise on credit from Griffin, terms n/30. Note: Enter debits before credits