Walker Company entered into the following transactions involving short-term liabilities. (Use 360 days a year.) Year 1 April 20 Purchased $50,750 of merchandise on credit from Lee, terms n/30. May 19 Replaced the April 20 account payable to Lee with a 90-day, 6%, $36,000 note payable along with paying $14,750 in cash. July 8 Borrowed $108,000 cash from NBR Bank by signing a 120-day, 9%, $108,000 note payable. August 17 Paid the amount due on the note to Lee at the maturity