[The following information applies to the questions displayed below.] Tyrell Company entered into the following...
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[The following information applies to the questions displayed below.] Tyrell Company entered into the following transactions involving short-term liabilities. Year 1 April 20 Purchased $37,000 of merchandise on credit from Locust, terms n/30. $2,000 in cash. July 8 Borrowed $57,000 cash from NBR Bank by signing a 120 -day, 10%,$57,000 note payable. ? 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. November 28 Borrowed $24,000 cash from Fargo Bank by signing a 60 -day, 8%, $24,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 _? Paid the amount due on the note to Fargo Bank at the maturity date. . Prepare journal entries for all the preceding transactions and events. (Do not round your intermediate calculations.) Journal entry worksheet Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Note: Enter debits before credits
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