The January 1, Year 1 trial balance for the Walsh Company is found on the trial balance tab. The beginning balances are assumed. Taylor Co. entered into the following transactions involving short-term liabilities. (Use 360 days a year.) Year 1 its Apr. 20 Purchased $54, 250 of merchandise on credit from Parker, terms n/30 May 19 Replaced the April 20 account payable to Parker with a 90-day, 12%, $39,000 note payable along with paying $15, 250 in cash. July 8 Borrowed $93, 090 cash from NBR Bank by signing a 120-day, 10%, $93, 000 note payable. eBook 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 NBR Bank at the maturity date. Print NOV 28 Borrowed $48, 090 cash from Sacramento Bank by signing a 60-day, 8%, $48,000 note payable. Dec. eferences 31 Recorded an adjusting entry for accrued interest on the note to Sacramento Bank. Year 2 Jan. 27 Paid the amount due on the note to Sacramento Bank at the maturity date. Requirement General General Schedule of Calculation of Year 2 Journal Ledger Trial Balance Payables Interest payment 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. Taylor Co. Calculation of interest expense August 17 - Parker note: Principal Interest rate