Problem 9-1A (Algo) Short-term notes payable transactions and entries LO P1

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

Year 1

April 20 Purchased $37,500 of merchandise on credit from Locust, terms n/30.

May 19 Replaced the April 20 account payable to Locust with a 90-day, 8%, $35,000 note payable along with paying $2,500 in cash.

July 8 Borrowed $69,000 cash from NBR Bank by signing a 120-day, 11%, $69,000 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.

November 28 Borrowed $24,000 cash from Fargo Bank by signing a 60-day, 7%, $24,000 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 9-1A (Algo) Part 2

2. Determine the interest due at maturity for each of the three notes.

Note: Do not round intermediate calculations and round your final answer to nearest whole dollar. Use 360 days a year.

Tyrell Company entered into the following transactions involving short-term liabilities. Year 1 Apri1 20 purchased 337,500 of merehandine on eredit from Locust, terma a/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 81, $35,000 note payable along with paying $2,500 in cash. July 8 Dorroved $69,000 cash from Mar Bank by aigning a 120-day, 110, $69,000 note payable. 2 - Paid the anount dae on the note to Locust at the maturity date. Paid the amonnt dae on the note to whe Bank at the maturity date. November 28. Dorrowed $24,000 cash fron Pargo Bank by aigning a 60-day, 78,524,000 note payable. December 31 Recorded an adjusting entry for acerved interent on the note to Yargo Bank. Year 2 -? Paid the anount due on the note to Fargo Bank at the naturity date. Problem 9-1A (Algo) Part 2 2. Determine the interest due at maturity for each of the three notes. Note: Do not round intermediate calculations and round your final answer to nearest whole dollar, Use 360 days a year