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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 $38,500 of merchandise on credit from Locust, terms n/30. May 19 Replaced the April 20 account payable to Locust with a 90 -day, 8s, $35,000 note payable along with paying $3,500 in cash. July 8 Borrorged $63,000 cash from NBR Bank by signing a 120-day, 118,$63,000 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. Noventer 28 Borrowed $21,000 cash from Fargo Bank by $ igning a 60 -day, 7$,$21,000 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. 5. Prepare journal entries for all the preceding transactions and events. Note: Do not round your intermediate calculations. 1 Purchased $38,500 of merchandise on credit from Locust, terms n/30. Prepare journal entries for all the preceding transactions and events. Note: Do not round your intermediate calculations. 1 Purchased $38,500 of merchandise on credit from Locust, terms n/30. 2 Replaced the April 28 -account payable to Locust with a 90 -day, 8%,$35,000 note payable along with paying $3,500 in cash. 3 Borrowed $63,000 cash from NBR Bank by signing a 120 day, 11%,$63,000 note payable. 4 Paid the amount due on the note to Locust at the maturity date. 5 Paid the amount due on the note to NBR Bank at the maturity date. Note : = journal entry has been entered Prepare journal entries for all the preceding transactions and events. lote: Do not round your intermediate calculations. 4 Paid the amount due on the note to Locust at the maturity date. 5 Paid the amount due on the note to NBR Bank at the maturity date. 6 Borrowed $21,000 cash from Fargo Bank by signing a 60 day, 7%,$21,0g, note payable. iiv 7 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. 8 Paid the amount due on the note to Fargo Bank at the maturity date. Note : O= journal entry has been entered

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