prob 1 Required information Problem 9-1A (Algo) Short-term notes payable...
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prob 1
Required information Problem 9-1A (Algo) Short-term notes payable transactions and entries LO P1 (The following information applies to the questions displayed below) Tyrell Co. entered into the following transactions involving short-term liabilities Year 1 Apr. 20 Purchased $36,500 of merchandise on credit from Locust, terns w/3. May 19 Replaced the April 20 account payable to Locust with a 90 day, 9, $35,000 note payable along with paying $1,500 in cash July 8 Borrowed $66,000 cash from NBR Bank by signing a 120 day, 11%, $66,000 note payable Paid the amount due on the note to Locust at the maturity date. Paid the amount due on the note to NOR Bank at the maturity date Nov. 28 Borrowed $30,000 cash from Fargo Bank by signing a 60-day, 3%, $30,000 note payable Dec. 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. Problem 9-1A (Algo) Part 1 Required: 1. Determine the maturity date for each of the three notes described Locust NBR Bank Fargo Bank Maturity date
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