Problem $9-1$A Short$-$term notes payable transactions and entries P$1$

Tyrell Co$.$ entered into the following transactions involving short$-$term liabilities.

Year $1$

Apr. $20$ Purchased $$40,250$ of merchandise on credit from Locust, terms $\frac{n}{30}.$

May $19$ Replaced the April $20$ account payable to Locust with a $90-$day, $10\%,$ $$35,000$ note payable along with paying $$5,250$ in cash.

July $8$ Borrowed $$80,000$ cash from NBR Bank by signing a $120-$day, $9\%,$$$80,000$ note payable.

Paid the amount due on the note to Locust at the maturity date.

Paid the amount due on the note to NBR Bank at the maturity date.

Nov. $28$ Borrowed $$42,000$ cash from Fargo Bank by signing a $60-$day, $8\%,$ $$42,000$ 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.