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Tyrell Company entered into the following transactions involving short-term liabilities. Year 1 Apr11 20 Purchased $37,500 of merchandise on credit from Locust, terms n/30. May

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Tyrell Company entered into the following transactions involving short-term liabilities. Year 1 Apr11 20 Purchased $37,500 of merchandise on credit from Locust, terms n/30. May 19 Replaced the April 20 account payable to Locust with a 90 -day, 9%,$35,000 note payable along with paying $2,500 in cash. July 8 Borrowed $66,000 cash from NBR Bank by signing a 120-day, 12x, $66,000 note payable. ? - 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. November 28 Borrowed $24,000 cash from Fargo Bank by signing a 60-day, 9%,$24,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 - - Paid the anount due on the note to Fargo Bank at the maturity date. 5. Prepare joumal entries for all the preceding transactions and events. Note: Do not round your intermediate calculations. Journal entry worksheet Purchased $37,500 of merchandise on credit from Locust, terms n/30. Note: Enter debits before credits. Paloma Company has four employees. FICA Social Security taxes are 6.2% of the first $137700 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. Also, for the first $7,000 paid to each employee, the company's FUTA taxes are 0.6\% and SUTA taxes are 5.4%. The company is preparing its payroll calculations for the week ended August 25 . Payroll records show the following information for the company's four employees. In addition to gross pay, the company must pay one-half or the $n0 peccemployec weekiy heaith insurance each empioyee pays the remaining one-haif the company also contributes an extra 8% of each employee's gross pay (at no cost to employees) to a pension fund. Required: Compute the following for the week ended August 25 Note: Round your intermediate calculetions and final onswers to 2 decimal places. In addition to gross pay, the company must pay one-half of the $110 per employee weekly health insurance; each employee pays the remaining one-half The company also contributes an extra 8% of each employee's gross pay (at no cost to employees) to a pension fund. Required: Compute the following for the week ended August 25. Note: Round your intermediate calculations and final answers to 2 decimal places

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