chapter 9 GL YEAR 2 payment

Year 1 Apr 20 Purchased $54, 250 of merchandise on credit from Parker, terms n/30. May 19 Replaced the April 20 account payable to Parker with a 90-day, 12%, $39, 090 note payable along with paying $15, 250 in cash. July 8 Borrowed $93, 000 cash from NBR Bank by signing a 120-day, 10%, $93, 000 note payable. Aug 17 Paid the amount due on the note to Parker at the maturity date. Nov. 5 Paid the amount due on the note to NBR Bank at the maturity date. Nov 28 Borrowed $48, 090 cash from Sacramento Bank by signing a 60-day, 8%, $48,000 note payable. Dec . 31 Recorded an adjusting entry for accrued interest on the note to Sacramento Bank. Year 2 ices Jan. 27 Paid the amount due on the note to Sacramento Bank at the maturity date General General Schedule of Calculation of Year 2 Requirement Journal Ledger Trial Balance Payables Interest payment Prepare the January 27, Year 2 journal entry to record the payment of the Sacramento note at maturity. Walsh Company does NOT prepare reversing entries. Date Account title Debit Credit 1/27/Year 2 000: No journal entry required 101: Cash 103: Account receivable - Other