Check my work GL901 (Algo) Based on Problem 09-1A LO P1 The January 1, Year 1 trial balance for the Allen Company is found on the trial balance tab. The beginning balances are assumed. Brown Company entered into the following transactions involving short-term liabilities. (Use 360 days a year.) Year 1 April 20 Purchased $48,250 of merchandise on credit from King, terms n/30. May 19 Replaced the April 20 account payable to King with a 90-day, 8%, $39,000 note payable along with paying $9,250 in cash. July 8 Borrowed $93,000 cash from MTR Bank by signing a 120-day, 10%, $93,000 note payable. August 17 Paid the amount due on the note to King at the maturity date. November 5 Paid the amount due on the note to MTR Bank at the maturity date. November 28 Borrowed $51,000 cash from Sacramento Bank by signing a 60-day, 8%, $51,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Sacramento Bank. Year 2 January 27 Paid the amount due on the note to Sacramento Bank at the maturity date. Requirement General Journal General Ledger Trial Balance Schedule of Payables Calculation of Interest Year 2 payment Prepare the journal entries related to notes and accounts payable. Hint: Use the "Calculation of Interest" tab to ensure the accuracy of your antries