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

Year 1
Apr.		20		Purchased $46,750 of merchandise on credit from Parker, terms n/30.
May		19		Replaced the April 20 account payable to Parker with a 90-day, 10%, $36,000 note payable along with paying $10,750 in cash.
July		8		Borrowed $84,000 cash from AKR Bank by signing a 120-day, 10%, $84,000 note payable.
Aug.		17		Paid the amount due on the note to Parker at the maturity date.
Nov.		5		Paid the amount due on the note to AKR Bank at the maturity date.
Nov.		28		Borrowed $81,000 cash from Chicago Bank by signing a 60-day, 8%, $81,000 note payable.
Dec.		31		Recorded an adjusting entry for accrued interest on the note to Chicago Bank.
Year 2
Jan.		27		Paid the amount due on the note to Chicago Bank at the maturity date.

No	Date	Account Title	Debit	Credit
1	Apr 20	Merchandise inventory	46,750
		Accounts payable - Parker		46,750
2	May 19	Accounts payable - Parker	46,750
		Cash		10,750
		Notes payable - Parker		36,000
3	Jul 08	Cash
		Notes payable - AKR Bank
4	Aug 17	Notes payable - Parker
		Interest expense
		Cash
5	Nov 05	Notes payable - AKR Bank
		Interest expense
		Cash
6	Nov 28	Cash
		Notes payable - Chicago
7	Dec 31	Interest expense
		Interest payable