Question: Required information Problem 9-1A (Algo) Short-term notes payable transactions and entries LO P1 [The following information applies to the questions displayed below.] Tyrell Company entered
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Required information Problem 9-1A (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 Apri1 20 Purchased $37,500 of merchandise on eredit from Locust, terms n/30, May 19 Replaced the April 20 account payable to Locust with a 90 -day, 81, $35,000 note payable along. July 8 with paying $2,500 in cash. Joly 8 Borrowed $57,000 cash from NBR Bank by signing a 120 -day, 111,$57,000 note payable. - . Paid the amount due on the note to Locust at the maturity date. Novesber 28 Borrowed $30,000 cash from Fargo Bank by signing a 60 day, 71,$30,000 note payable. December 31 Recorded an adjusting entry for acerued 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. (Do not round intermediate calculations and round your final onswer to nearest whole dollar. Use 360 days a 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. (Do not round intermediate calculations and round your final answer to nearest whole dollar. Use 360 days a year.)
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