Tyrell Co entered into the following transactions involving short term liabilities in 2012 and 2013 2012 Apr 20 Purchased $37,000 of merchandise on credit from Locust, terms are 1 10, 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 $2,000 in cash July 8 Borrowed $66,000 cash from National 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 National Bank at the maturity date Nov 28 Borrowed $33,000 cash from Fargo Bank by signing a 60 day, 7 interest bearing note with a face value of $33,000 Dec 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank 2013 Paid the amount due on the note to Fargo Bank at the maturity date I figured out the interest amounts are as follows Locust $700, Natl Bank $2420, and Fargo $213 (2012) $173 (2013) I can't figure out the answer to the following questions, however Determine the interest expense to be recorded in the adjusting entry at the end of 2012 (Do not round your intermediate calculations Use 360 days a year ) Total through maturity Principal x rate x length of loan interest 2012 interest to be accrued principle x rate x length of loan interest Determine the interest expense to be recorded in 2013 (Do not round your intermediate calculations Use 360 days a year ) Same as above format but also add 2013 interest to be recorded

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Tyrell Co. entered into the following transactions involving short-term liabilities in 2012 and 2013. 2012 Apr. 20 Purchased $37,000 of merchandise on credit from Locust,

Tyrell Co. entered into the following transactions involving short-term liabilities in 2012 and 2013.

2012
Apr. 20	Purchased $37,000 of merchandise on credit from Locust, terms are 1/10, 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 $2,000 in cash.
July 8	Borrowed $66,000 cash from National 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 National Bank at the maturity date.
Nov. 28	Borrowed $33,000 cash from Fargo Bank by signing a 60-day, 7% interest-bearing note with a face value of $33,000.
Dec. 31	Recorded an adjusting entry for accrued interest on the note to Fargo Bank.

2013

__?__

Paid the amount due on the note to Fargo Bank at the maturity date.

I figured out the interest amounts are as follows - Locust: $700, Natl Bank $2420, and Fargo $213 (2012) & $173 (2013)

I can't figure out the answer to the following questions, however.

Determine the interest expense to be recorded in the adjusting entry at the end of 2012. (Do not round your intermediate calculations. Use 360 days a year.)

Total through maturity: Principal x rate x length of loan = interest

2012 interest to be accrued: principle x rate x length of loan = interest

	Determine the interest expense to be recorded in 2013. (Do not round your intermediate calculations. Use 360 days a year.)
	*Same as above format but also add 2013 interest to be recorded