Question: its due on 20 mins! please help! will rate good applies to the questions displayed below. Tyrell Co. entered into the following transactions involving short-term

applies to the questions displayed below. Tyrell Co. entered into the following transactions involving short-term liabilities. Year 1 Apr. 20 Purchased $35,000 of merchandise on credit from Locust, terms n/38. May 19 Replaced the April 20 account payable to Locust with a 90-day, 7%, $35,000 note payable along with paying $0 in cash. July 8 Borrowed $51,000 cash from NBR Bank by signing a 120-day, 10%, $51,000 note payable. Paid the amount due on the note to Locust at the maturity date. 7 Paid the amount due on the note to NBR Bank at the maturity date. Nov. 28 Borrowed $33,000 cash from Fargo Bank by signing a 60-day, 94, $33,688 note payable. Dec. 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 9-1A Part 4 4. Determine the interest expense recorded in Year 2. (Do not round intermediate calculations and round your final answers to nearest whole dollar. Use 360 days a year.) Year end accrual required for: Fargo Bank Time Principal Rate Interest Interest to be recorded in Year 2 % Paid the amount due on the note to Fargo Bank at the maturity date. Problem 9-1A Part 5 5. Prepare journal entries for all the preceding transactions and events. (Do not round your intermediate calculations.) View transaction list Journal entry worksheet Purchased $35,000 of merchandise on credit from Locust, terms n/30. Note: Enter debits before credits Date Debit Credit Apr 20 General Journal Merchandise inventory Accounts payable Locust 35,000 35,000
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