Question: i will thumbs up Required information Problem 11-1A (Algo) Short-term notes payable transactions and entries LO P1 [The following information applies to the questions displayed

i will thumbs up  i will thumbs up Required information Problem 11-1A (Algo) Short-term notes
payable transactions and entries LO P1 [The following information applies to the
questions displayed below.] Tyrell Company entered into the following transactions involving short-term
liabilities. Year 1 April 20 Purehased $35,500 of merchandise on credit from
Locust, terms n/30. May 19 Replaced the April 20 account payablo to
Locust with a 90 -day, 81, 535,000 note payable along with paying
$500 in cash. July 8 Borrowed $60,000 cash from NBR Bank by
signing a 120-day, 118, $60,000 note payable. July 8 Borrowed $60,000 cash
from NBR Bank by signing a 120-day, date $60 - 2 -

Required information Problem 11-1A (Algo) Short-term notes payable transactions and entries LO P1 [The following information applies to the questions displayed below.] Tyrell Company entered into the following transactions involving short-term liabilities. Year 1 April 20 Purehased $35,500 of merchandise on credit from Locust, terms n/30. May 19 Replaced the April 20 account payablo to Locust with a 90 -day, 81, 535,000 note payable along with paying $500 in cash. July 8 Borrowed $60,000 cash from NBR Bank by signing a 120-day, 118, $60,000 note payable. July 8 Borrowed $60,000 cash from NBR Bank by signing a 120-day, date $60 - 2 - Paid the amount due on the note to NBR Bank at the maturity date. November 28 Borrowed $27,000 cash from Fargo Bank by signing a 60 -day, 78,$27,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 - - Paid the amount due on the note to Fargo Bank at the maturity date. Problem 11-1A (Algo) Part 5 5. Prepare journal entries for all the preceding transactions and events. Note: Do not round your intermediate calculations. Purchased $35,500 of merchandise on credit from Locust, terms n/30. Note: Enter debits before credits. Journal entry worksheet Replaced the April 2U account payable to Locust with a 90-day, 8%,$35,000 note payable along with paying $500 in cash. Note: Enter debits before credits. Borrowed $60,000 cash from NBR Bank by signing a 120 -day, 11%,$60,000 note payable. Note: Enter debits before credits. Paid the amount due on the note to Locust at the maturity date. ote: Enter debits before credits. Journal entry worksheet

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