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Required information Problem 9-1A Short-term notes payable transactions and entries LO P1 [The following information...

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Required information Problem 9-1A 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 in 2016 and 2017 2016 Apr. 20 Purchased $37,000 of merchandise on credit from Locust, terms n/30. Tyrell uses the perpetual May 19 Replaced the April 20 account payable to Locust with a 90-day, $35,000 note bearing 9% annual July 8 Borrowed $66,000 cash from NBR Bank by signing a 120-day, 11% interest-bearing note with a face inventory system. interest along with paying $2,000 in cash value of $66,000 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 Nov. 28 Borrowed $33,000 cash from Fargo Bank by signing a 60-day, 6% interest-bearing note with a face Dec. 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank 2017 value of $33,000 Paid the amount due on the note to Fargo Bank at the maturity date roblem 9-1A

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