Required information Problem 11-1A Short-term notes payable transactions and entries LO P1 The following information applies to the questions displayed below Tyrell Co. entered into the following transactions involving short-term liabilities in 2016 and 2017 2016 Apr 20 Purchased $35,500 of merchandise on credit from Locust, terms n/30. Tyrell uses the perpetual inventory system May 19 Replaced the April 20 account payable to Locust with a 90-day, $35,000 note bearing 8% annual interest along with paying $500 in cash. $69,000. 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 $24,000 cash from Fargo Bank by signing a 60-day, 9% interest-bearing note with a face value of Dec. 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. 2017 $24,000. --?- Paid the amount due on the note to Fargo Bank at the maturity date