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Tyrell Co. entered into the following transactions involving short-term liabilities in 2017 and 2018 2017 Apr. 20 Purchased $36,500 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 $60,000 cash from NBR Bank by signing a 120-day, 10% interest-bearing note with a face inventory system. interest along with paying $1,500 in cash. value of $60,000 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 $36,000 cash from Fargo Bank by signing a 60-day, 9% interest-bearing note with a face Dec. 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. 2018 value of $36,000 Paid the amount due on the note to Fargo Bank at the maturity date. 5.1 Prepare journal entries for all the preceding transactions and events for 2017. (Do not round your intermediate calculations.) Answer is not complete 0 Date General Journal Debit Credit Apr 20, 2017 Merchandise inventory 36,500 Accounts payable-Locust 36 May 19, 2017 Accounts payable-Locust 36,500 Notes payable-Locust Cash 35,000 3 Jul 08, 2017 Casth 60,000 Notes payable-NBR Bank 60 4Aug 17, 2017 Notes payable Locust 35,000 3,150 Interest expense Cash 31,850 Nov 05, 2017 Notes payable-NBR Bank 69,000 2,367 5 Interest expense Cash 71,367 36,00o 6 Nov 28, 2017 Cash Notes payable-Fargo Bank 36 Dec 31, 2017 Interest expense Interest payable 472 5.2 Prepare journal entries for all the preceding transactions and events for 2018. (Do not round your intermediate calculations.) Answer is complete but not entirely correct. No Date General Journal Debit Credit 2058 1103 36,000 Jan 27, 2018 Interest expense Interest payable Notes payable-Fargo bank 36,3173 Cash

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