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Zing Cell Phone Company entered into the following transactions involving current liabilities during 2023 and 2024: Mar. Apr. May 2023 14 Purchased merchandise on
Zing Cell Phone Company entered into the following transactions involving current liabilities during 2023 and 2024: Mar. Apr. May 2023 14 Purchased merchandise on credit from Ferris Inc. for $138,000. The terms were 1/10, n/30 (assume a perpetual inventory system). 14 Zing paid $24,000 cash and replaced the $114,000 remaining balance of the account payable to Ferris Inc. with a 5%, 60-day note payable. 21 Borrowed $124,000 from Scotiabank by signing a 4.5%, 90-day note. ? Paid the note to Ferris Inc. at maturity. ? Paid the note to Scotiabank at maturity. Dec. 15 Dec. 31 2024 Required: Borrowed $99,000 and signed a 5.25%, 120-day note with National Bank. Recorded an adjusting entry for the accrual of interest on the note to National Bank. ? Paid the note to National Bank at maturity. 1. Determine the maturity dates of the three notes just described. Ferris Inc. Scotiabank National Bank Maturity date
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