Tytus Co. entered into the following transactions involving short-term liabilities in 2014 and 2015.

Tytus Co. entered into the following transactions involving short-term liabilities in 2014 and 2015. 2014 Apr. 20 Purchased $38,500 of merchandise on credit from Frier, terms are 1/10, n/30. Tytus uses the perpetual inventory system May 19 Replaced the April 20 account payable to Frier with a 90-day, $30,000 note bearing 9% annual interest along with paying $8,500 in cash. July 8 Borrowed $60,000 cash from Community Bank by signing a 120-day, 10% interest-bearing note with a face value of $60,000 Paid the amount due on the note to Frier at the maturity date. Paid the amount due on the note to Community Bank at the maturity date. Nov. 28 Borrowed $21,000 cash from UMB Bank by signing a 60-day 8% interest-bearing note with a face value of $21,000. Recorded an adjusting entry for accrued interest on the note to UMI Bank. Dec 31 2015 Paid the amount due on the note to UMB Bank at the maturity date