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Year 1 April 20 Purchased $37,500 of merchandise on credit from Locust, terms n/30. May 19 Replaced the April 20 account payable to Locust with

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Year 1 April 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, 98 , $35,000 note payable along with paying $2,500 in cash. July 8 Borrowed $63,000 cash from NBR Bank by signing a 120-day, 118, $63,000 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 $33,000 cash from Fargo Bank by signing a 60 -day, 78,$33,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 2 Paid the amount due on the note to Fargo Bank at the maturity date. Problem 9-1A (Algo) Part 2 2. Determine the interest due at maturity for each of the three notes. Note: Do not round intermediate calculations and round your final answer to nearest whole dollar. Use 360 days a year. 4. Dete the interest expense recorded in Year 2. Note: Do not round intermediate calculations and round your final answers to nearest whole dollar. Use 360 days a year. 3. Dete the interest expense recorded in the adjusting entry at the end of Year 1. Note: Do not round intermediate calculations and round your final answer to nearest whole dollar. Use 360 days a year

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