Required information Problem 9-1A 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 2017 and 2018 2017 Apr. 20 Purchased $36,000 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 with paying $1,000 in cash 8 Borrowed $54,000 cash from NBR Bank by signing $54,000 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. 90-day, $35,000 note bearing 8% annual interest along July a 120-day, 10% interest-bearing note with a face value of a 60-day, 8 % interest -bearing note with a face value of Nov. 28 Borrowed $27,000 cash from Fargo Bank by signing $27,000 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank Dec 2018 Paid the amount due on the note to Fargo Bank at the maturity date. 1 2 3 4 5 6 7 Purchased $36,000 of merchandise on credit from Locust, terms n/30. Tyrell uses the perpetual inventory system Note: Enter debits before credits. Date General Journal Debit Credit Apr 20, 2017 et Replaced the April 20 account payable to Locust with a 90-day, $35,000 note bearing 8% annual interest along with paying $1,000 in cash Note: Enter debits before credits Date General Journal Debit Credit May 19, 2017 1 2 3 4 5 7 Borrowed $54,000 cash from NBR Bank by signing a 120-day, 10% interest- bearing note with a face value of $54,000. Note: Enter debits before credits General Journal Credit Date Debit Jul 08, 2017 CC LO 1 2 3 4 5 6 7 Paid the amount due on the note to Locust at the maturity date. C Note: Enter debits before credits Date General Journal Debit Credit Aug 17, 2017 Record entry Cloar ontru View general iournal Paid the amount due on the note to NBR Bank at the maturity date. Note: Enter debits before credits Date General Journal Debit Credit Nov 05, 2017 Record entry Clear entry View general journall Borrowed $27,000 cash from Fargo Bank by signing bearing note with a face value of $27,000. 60-day, 8% interest- Note: Enter debits before credits. Credit Date General Journal Debit Nov 28, 2017 Record entry Clear entry View general journal 1 2 4 5 6 7 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31, 2017 View general journal Record entry Clear entry et