GL901 - Based on Problem 9-1A LO C2, 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 Co. entered into the following transactions involving short-term labilmes (Use 360 days a year.) Year 1 Apr 20 Purchased $48, 250 of merchandise on credit from King, terns n/30. May 19 Replaced the April 20 account payable to king with a 90-day, 8%, $30,000 note payable along with paying 39,258 in cash July 8 Borrowed 593,000 cash from MTR Bank by signing a 120-day, 18%, 593,60 note payable. Aug 17 Paid the amount due on the note to King at the maturity date. NOV. 5 Paid the amount due on the note to MTR Bank at the maturity date. Nov . 28 Borrowed 551,00 cash from Sacramento Bank by signing a 6-day, , 551,000 note payable. Dec. 31 Recorded an adjusting entry for accrued interest on the note to Sacramento Bank Year 2 Jan. 27 Paid the amount due on the note to Sacramento Bank at the maturity date. General General Year 2 Schedule of Calculation of Requirement Trial Balance Journal Ledger Payables Interest payment Prepare the journal entries related to notes and accounts payable. Hints Use the "Calculation of Interest" tab to ensure the accuracy of your entries. View transaction list Journal entry worksheet 1 2 5 6 Apr. 20. Purchased $48,250 of merchandise on credit from King, terms n30. Brown uses the perpetual inventory system. Prey 1 of 1 Next GL 901 - Based on Problem 9-1A LO C2, P1 . The January 1, Year 1 trial balance for the Allen Company found on the trial balance tab. The beginning birliances are tamed Brown Coentered into the following transactions involving short-term attines (Use 360 days a year) Year 1 Apr. 20 Purchased $4,250 of merchandise on credit from King, terus w/3. May 19 placed the April 2 account payable to King with on day, x, 530, note payant long with paying $2,25 in cas July * Borrowed 593,000 cash from MTR Bank by sink. 128-day, 10%, 593, note payable Aug 17 Paid the amount due on the note to King at the maturity dute. Nov s Paid the amount due on the note to HTR Bank wt the maturity date Now 28 Borrowed 551,00 cash from Sacramento Bank by signing a day, x, 551,08 note payable. Dec 11 Recorded an adjusting entry for accrued interest on the note to Sacramento Bank, Year 2 Jan 27 Paid the anount du on the note to Sacramento Bank at the maturity dute. Frint Requirement General Journal General Ledger Trial Balance Schedule of Calculation of Payables Interest Year 2 payment 0 General Ledger Account Casti Merchandise investory Debat Credit No Credit Date Debit No Date Jan 01 Balance 51,000 Balance 8.000 Jan 01 Allen, Capital No Debit Credit Date Jan 01 Balance 57.000 (General Journal Trial Balance > July Aug. Nov. Nov. Dec. 8 Borrowed $93,000 cash from MTR Bank by signing a 120-day, 1ex, 593 17 Paid the amount due on the note to King at the maturity date. 5 Paid the amount due on the note to MTR Bank at the maturity date. 28 Borrowed $51,000 cash from Sacramento Bank by signing a 60-day, 82 31 Recorded an adjusting entry for accrued interest on the note to sa Year 2 Jan. 27 Paid the amount due on the note to Sacramento Bank at the maturity General Requirement General Schedule of calculati Journal Ledger Trial Balance Payables Intere Here are the balances in Accounts and Notes payable based on your journal enti Brown Co. Schedule of Accounts Payable Total accounts payable $ 0 Brown Co Schedule of Notes Payable Total notes payable $ 0