Week 8 General Ledger-Chapter 9 Seved The January 1, Year 1 trial balance for the Tyrell Company is found on the trial balance tab. The beginning balances are assumed. 10 1 Tyrell Company entered into the following transactions involving short-term liabilities. Note: Use 360 days a year. points ellook Year 1 April 20 Purchased $40,250 of merchandise on credit from Locust, terma n/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 10%, $35,000 note payable along with paying $5,250 in cash. July 8 Borrowed $80,000 cash from NBR Bank by signing a 120-day, 91, $80,000 note payable. August 17 Paid the amount due on the note to Locust at the maturity date. November 5 Paid the amount due on the note to BR Bank at the maturity date. November 28 Borrowed $42,000 cash from Fargo Bank by signing a 60-day, 8s, $42,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. January 27 Paid the amount due on the note to Fargo Bank at the maturity date. Year 2 Print References Requirement General Journal General Ledger Trial Balance Schedule of Calculation of Payables Interest Year 21 payment Prepare the journal entries related to notes and accounts payable. Hint: Use the "Calculation of Interest" tab to ensure the accuracy of your entries. View transaction list 1 April 20. Purchased $40,250 of merchandise on credit from Locust, terms n/30. 2 May 19. Replaced the April 20 account payable to Locust with a 90-day, 10%, $35,000 note payable along with paying $5,250 in cash. X rms View transaction list X es 1 April 20. Purchased $40,250 of merchandise on credit from Locust, terms n/30. 2 May 19. Replaced the April 20 account payable to Locust with a 90-day, 10%, $35,000 note payable along with paying $5,250 in cash. 3 July 8. Bowed $80,000 cash from NBR Bank by signing a 120-day, 9%, $80,000 note payable. 4 August 17. Paid the amount due on the note to Locust at the maturity date. 5 November 5. Paid the amount due on the note to NBR Bank at the maturity date. journal entry has been entered Note: Record entry Clear entry rms Credit View general < Requirement General Ledge ces ----- 3 July 8. Borrowed $80,000 cash from NBR Bank by signing a 120-day, 9%, $80,000 note payable. 4 August 17. Paid the amount due on the note to Locust at the maturity date. 5 November 5. Paid the amount due on the note to NBR Bank at the maturity date. 6 November 28. Borrowed $42,000 cash from Fargo Bank by signing a 60-day, 8%, $42,000 note payable. 7 December 31 Recorded an adjusting entry for accrued interest on the not to Fargo Bank. journal entry has been entered Note: Record entry Clear entry rms Credi View genera Journal entry worksheet < 1 2 5 6 7 May 19. Replaced the April 20 account payable to Locust with a 90-day, 10%, $35,000 note payable along with paying $5,250 in cash. Note: Enter debits before credits. Date May 19 Account Title Debit Credit + Record entry Clear entry View general journal Requirement General Ledger Requirement General Journal General Ledger Schedule or Trial Balance Payables Calculation or Interest Tear payment Prepare the journal entries related to notes and accounts payable. Hint: Use the "Calculation of Interest accuracy of your entries. View transaction list Journal entry worksheet < 1 2 3 4 5 6 7 July 8. Borrowed $80,000 cash from NBR Bank by signing a 120-day, 9%, $80,000 note payable. Note: Enter debits before credits. Date July 08 Account Title Debit Credit Record entry Clear entry View general journal ces Journal entry worksheet < 1 2 3 5 6 7 August 17. Paid the amount due on the note to Locust at the maturity date. Note: Enter debits before credits. Date August 17 Account Title Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet < 1 2 3 4 5 9 7 November 5. Paid the amount due on the note to NBR Bank at the maturity date. Note: Enter debits before credits. Date November 05 Account Title Debit Credit Record entry Clear entry View general journal < Requirement General Ledger Prev 1 of 1 Next View transaction list Journal entry worksheet < 1 1 2 3 4 5 6 7 November 28. Borrowed $42,000 cash from Fargo Bank by signing a 60-day, 8%, $42,000 note payable. Note: Enter debits before credits. Date Account Title Debit Credit November 28 Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 4 5 6 December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Note: Enter debits before credits. Date December 31 Account Title Debit Credit Record entry Clear entry View general journal < Requirement General Ledger >