Tyrell Co. entered into the following transactions involving short-term liabilities in 2017 and 2018. 2017 Apr. 20 Purchased $36,500 of nerchandise on credit from Locust, terms n/30. Tyrell uses the perpetual inventory system. May 19 Replaced the April 20 account payable to Locust with a 90-day, $35,000 note bearing 9% annual interest along with paying $1,500 in cash. 8 Borrowed $66,000 cash from NBR Bank by signing a 120-day, 11% interest-bearing note with a face value of $66,000. Paid the amount due on the note to Locust at the maturity date. Paid the amount due on the note to NBR Bank at the maturity date. July Nov. 28 Borrowed $24,000 cash from Fargo Bank by signing a 60-day, 7% interest-bearing note with a face value of $24,000. Dec. 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. 2018 Paid the amount due on the note to Fargo Bank at the maturity date. 2018 Paid the amount due on the note to Fargo Bank at the Required: 1. Determine the maturity date for each of the three notes described. Locust NBR Bank Fargo Bank Maturity date 3. Determine the interest expense to be recorded in the adjusting entry at the end of 2017. (Do not round your in calculations. Use 360 days a year.) Year end accrual required for: Fargo Bank Principal X Rate Time Interest X 9% Interest to be accrued in 2017 X 2018 Paid the amount due on the note to Fargo Bank at the maturity date. 4. Determine the interest expense to be recorded in 2018. (Do not round intermediate calculations and round y nearest whole dollar. Use 360 days a year.) Fargo Bank Year end accrual required for: Interest Time Rate Principal X Interest to be recorded in 2018 X Required in ation View transaction list Purchased $36,500 of merchandise on credit from Locust terms n/30. Tyrell uses the perpetual inventory system. 1 Tyrell Replaced the April 20 account payable to Locust with a 90-day, $35,000 note bearing 9% annual interest along with paying $1,500 in cash. 3 Borrowed $66,000 cash from NBR Bank by signing a 120- day, 11% interest-bearing note with a face value of $66,000. Credit Paid the amount due on the note to Locust at the 4 maturity date. 5 Paid the amount due on the note to NBR Bank at the maturibedata Note : journal entry has been entered Record entry Clear entry View general j X View transaction list d 12U- s DUITOWEU $00,U00 casil Om NDK BatIK uy Signny day, 11% interest-bearing note with a face value of $66,000. Tyrell Paid the amount due on the note to Locust at the maturity date. 4 5 Paid the amount due on the note to NBR Bank at the maturity date. CreEt Borrowed $24,000 cash from Fargo Bank by signing a 60- day, 7% interest-bearing note with a face value of $24,000. 6 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. 7 Note: journal entry has been entered