Tyrell Co. entered into the following transactions involving short-term liabilities 2017 and 2018 2017 Apr. 20 Purchased $35,500 of merchandise on credit from Locust, torna n/30. Tyrell uses the perpetual inventory system. May 19 Replaced the April 20 account payable to locunt with a 90-day, 635,000 note bearing en annual interest along with paying $500 in cash. July 8 Borrowed $66,000 cash from NSR Bank by signing a 120-day, 111 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. Nov. 28 Borrowed $30,000 cash from Fargo Bank by signing a 60-day, 8: interest-bearing note with a face value of $30,000. Dec. 31 Recorded an adjusting entry for accrued interest on the note to Pargo Bank. 2018 2 Paid the amount due on the note to Pargo Bank at the maturity date. 2. Determine the interest due at maturity for each of the three notes. (Do not round your intermediate calculations. Use 360 days a year.) Principal X Rate Time Interest Locust NBR Bank % % % x X Fargo Bank Tyrell Co. entered into the following transactions involving short-term liabilities in 2017 and 2018 2017 Apr. 20 Purchased $35,500 of merchandise on credit from Locust, termo 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 88 annual interest along with paying $500 in cash. July 8 Borrowed $66,000 cash from Nor Bank by signing a 120-day, 11 interest-bearing noto with a face value of $66,000. 12 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. Nov. 28 Borrowed $30,000 cash from Fargo Bank by signing a 60-day, 86 interest-bearing note with a face value of $30,000. Dec. 31 Recorded an adjusting entry for accrued interest on the note to Pargo Bank. 2018 ? Pald the amount due on the note to Fargo Bank at the maturity date. 3. Determine the interest expense to be recorded in the adjusting entry at the end of 2017 (Do not round your intermediate calculations. Use 360 days a year.) Year and accrual required for Fargo Bank Principal x Rate Timo % X Interest Interest to be accrued in 2017 Tyrell Co. entered into the following transactions involving short-term liabilities in 2017 and 2018. 2017 Apr. 20 Purchased $35,500 of merchandise 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 8% annual interest along with paying $500 in cash July 8 Borrowed $66,000 cash from NBR Bank by signing a 120-day, 110 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. Nov. 28 Borrowed $30,000 cash from Fargo Bank by signing a 60-day, 8 interest-bearing note with a face value of $30,000. 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. 4. Determine the interest expense to be recorded in 2018. (Do not round intermediate calculations and round your final answers to nearest whole dollar. Use 360 days a year.) Year and accrual required for Principal * Rate Fargo Bank Time % Interest Interest to be recorded in 2018