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Zing Cell Phone Company entered into the following transactions involving current liabilities during 2020 and 2021 2020 Mar 14 Purchased merchandise on credit from Ferris

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Zing Cell Phone Company entered into the following transactions involving current liabilities during 2020 and 2021 2020 Mar 14 Purchased merchandise on credit from Ferris Inc. for $164,000. The terms were 1/10, n/30 (assume a perpetual inventory system). Apr 14 Zing paid $37,000 cash and replaced the $127,000 remaining balance of the account payable to Ferris Inc. with a 4%, 60-day note payable May 21 Borrowed $137,000 from Scotiabank by signing a 3.0%, 90-day note. ? Paid the note to Ferris Inc. at maturity. ? Paid the note to Scotiabank at maturity. Dec 15 Borrowed $112,000 and signed a 4.25%, 120-day note with National Bank Dec. 31 Recorded an adjusting entry for the accrual of interest on the note to National Bank 2021 Paid the note to National Bank at maturity Required: 1. Determine the maturity detes of the three notes just described. PAN X 1 Record the purchase of merchandise on credit. 2 Record the payment of cash and a note written to extend due date. 3 Record the borrowing of cash with a 90-day against note. Record the payment of note with interest. 5 Record the payment of note with interest. 6 Record the borrowing of cash with a 120-day note. Record the accrued interest on note payable. Note : = journal entry has been entered Cash 2 Record the payment of cash and a note written to extend due date. Record the borrowing of cash with a 90-day against note. Record the payment of note with interest. Record the payment of note with interest. 6 Record the borrowing of cash with a 120-day note. Record the accrued interest on note payable. 8 Record the payment of note with interest. Note := journal entry has been entered

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