Saved GL901 - Based on Problem 9-1A LO C2, P1 The January 1 Year 1 trial balance for the Gonzalez Company is found on the trial balance tab. The beginning balances are assumed. Wright Co. entered into the following transactions involving short-term liabilities (Use 360 days a year.) Year 1 Apr. May July Aug. Nov. Nov. Dec. 20 Purchased $42,250 of merchandise on credit from Mall, teras n/30. 19 Replaced the April 2e account payable to Hall with a 90-day, 8%, 539,000 note payable along with paying $3,250 in cash. 8 Borrowed $93,000 cash fros NOR Bank by signing a 120-day, 12%, 593, 000 note payable. 17 Paid the amount due on the note to Mall at the maturity date. 5 Paid the amount due on the note to NOR Bank at the maturity date. 26 Borrowed 554,000 cash from Sacramento Bank by signing a 60-day, 125, $54,000 note payable. 31 Recorded an adjusting entry for accrued interest on the note to Sacramento Bank. Year 2 Jan. 27 Paid the amount due on the note to Sacramento Bank at the maturity date. Requirement General Journal General Ledger Trial Balance Schedule of Payables Calculation of Interest Year 2 payment Prepare the January 27, Year 2 journal entry to record the payment of the Sacramento note at maturity. Gonzalez company does not prepare reversing entries. Date 1/27/Year 2 Debit 468 Credit Account the interest expense Interest payable Notes payable - Sacramento Cash 540001 Calculation of Interest