GL901 - Based on Problem 9-1A LO C2, P1 The January 1. Year 1 trial balance for the Walker Company is found on the trial balance tab. The beginning balances are assumed. Mitchell Co. entered into the following transactions involving short-term liabilities. (Use 360 days a year.) Year 1 Apr. May July Aug. Nov. Nov. Dec. 20 Purchaned $43,250 of merchandise on credit from Allen, torma n/30. 19 Replaced the April 20 account payable to allen with a 90-day, 61, $37,000 note payable along with paying $6,250 in cash. 8 Borrowed $99,000 cash from AKR Bank by signing a 120-day, 98, 999,000 note payable. 17 Paid the amount due on the note to Allen at the maturity date. 5 Paid the amount due on the note to AKR Bank at the maturity date. 28 Borrowed $60,000 cash from Fargo Bank by signing a 60-day, 61, $60,000 note payable. 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 Jan. 27 Paid the attount due on the note to Pargo Bank at the maturity date. General General Requirement Schedule of Year 2 Calculation of Journal Ledger Trial Balance Payables Interest payment General Journal tab - Prepare the Year 1 journal entries related to the notes and accounts payable of Mitchell Co. Calculation of interest tab Use the interest formula (P x R x T) to verify the amount of interest recorded in your entries. Verify that total interest experise agrees with the trial balance. Year 2 payment tab - Prepare the January 27, Year 2 entry to record the repayment of the note at maturity. Requirement General Journal > Journal entry worksheet >