Tyrell Co. entered into the following transactions involving short-term liabilities in 2016 and 2017 2016 Apr. 20 Purchased $39,000 of merchandise on credit from Locust, terms n/30. Tyrell uses the perpetual May 19 Replaced the April 20 account payable to Locust with a 90-day, $35,000 note bearing 9% annual July 8 Borrowed $63,000 cash from NBR Bank by signing a 120-day, 11% interest-bearing note with a face inventory system. interest along with paying $4,000 in cash. value of $63,000. 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 $33,000 cash from Fargo Bank by signing a 60-day, 7% interest-bearing note with a face Dec. 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. 2017 value of $33,000. Paid the amount due on the note to Fargo Bank at the maturity date Required: 1. Determine the maturity date for each of the three notes described Locust NBR Bank Fargo Bank 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 x TimeInterest Locust NBR Bank Fargo Bank 3. Determine the interest expense to be recorded in the adjusting entry at the end of 2016. (Do not round your intermediate calculations. Use 360 days a year) ear end accrual required for: Fargo Bank Principalx Rate x Time Interest Interest to be accrued in 2016 4. Determine the interest expense to be recorded in 2017. (Do not round intermediate calculations and round your final answers to nearest whole dollar. Use 360 days a year.) Year end accrual required for: Fargo Bank Principalx Rate x Time Interest nterest to be recorded in 2017 5.1 Prepare journal entries for all the preceding transactions and events for 2016. (Do not round your intermediate calculations.) Answer is not complete. Date General Journal Debit Credit Apr 20, 2016 Merchandise inventory 39,000 Accounts payable-Locust 39,000 2 May 19, 2016 Accounts payable-Locust 39,000 Cash 4,000 Notes payable-Locust 35,000 Jul 08, 2016 Cash 6,000 Notes payable-NBR Bank 6,000 35,000 690 4 Aug 17, 2016 Notes payable-NBR Bank Interest expense Cash 3,569 335,000 690 4 4 Aug 17, 2016Notes payable-NBR Bank Interest expense Cash 3,569 5Nov 05, 2016 Notes payable-Fargo Bank (60,000 62,357 Interest expense Cash 5.2 Prepare journal entries for all the preceding transactions and events for 2017. (Do not round your intermediate calculations.) Answer is not complete. No Date General Journal Debit Credit