Required information The following information applies to the questions displayed below) Tyrell Company entered into...
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Required information 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 $40,250 of merchandise on credit fron Locust, terns 1/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 109, $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, 9, $80,000 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. Novenber 28 Borrowed $42,000 cash from Fargo Bank by signing a 60-day, 8. $42,000 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 naturity date. 2. Determine the interest due at maturity for each of the three notes (Do not round your intermediate calculations. Use 360 days a year.)
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