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4. Determine the Interest expense recorded In Year 2. Note: Do not round intermediate calculations and round your final answers to nearest whole dollar. Use 360 days a year. Journal entry worksheet 123456 Paid the amount due on the note to Fargo Bank at the maturity date. Nate: Enter debits before credts. Journal entry worksheet Borrowed $24,000 cash from Fargo Bank by signing a 60 -day, 9%, $24,000 note payable. Nate: Enter debits befare credits. Journal entry worksheet 12345 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Note: Enter debits before credits. Journal entry worksheet 5678 Borrowed $60,000 cash from NBR Bank by signing a 120-day, 11%,$60,000 note payable. Nate: Enter debits before credits. Required information [The following information applles 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. May 19 Replaced the April 20 account payable to Locust with a 9e-day, 8\%, \$35, 6e note payable along with paying $2,080 in cash. July 8 Borrowed $60,090 cash from NBR Bank by signing a 120-day, 11\%, $60, 690 note payable. -? Paid the amount due on the note to Locust at the naturity date. Paid the amount due on the note to NBR Bank at the maturity date. November 28 Borrowed $24,ee0 cash from Fargo Bank by signing a 60 -day, 9%,$24, ee 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. Required: 1. Determine the maturlty date for each of the three notes described. 3. Determine the Interest expense recorded in the adjusting entry at the end of Year 1. Note: Do not round intermediate calculations and round your final answer to nearest whole dollar. Use 360 days a year. Journal entry worksheet Paid the amount due on the note to NBR Bank at the maturity date. Note: Enter debits before credits. 2 Determine the Interest due at maturlty for each of the three notes. Note: Do not round intermedlate calculations and round your final answer to nearest whole dollar. Use 360 days a year. Journal entry worksheet 78 Paid the amount due on the note to Locust at the maturity date. Nate: Enter debits before credits. Journal entry worksheet 5678 Replaced the April 20 account payable to Locust with a 90-day, 8%, $35,000 note payable along with paying $2,000 in cash. Note: Enter debits before credits. 5. Prepare journal entrles for all the preceding transactions and events. Note: Do not round your intermedlate calculations. Journal entry worksheet 345678 Nate: Enter debits before cred ts

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