Tyrell Co. entered into the following transactions involving
short-term liabilities in 2017 and 2018.
2017
Apr. |
20 |
Purchased $35,500 of merchandise on credit from Locust, terms n/30. Tyrell uses the perpetual inventory system. |
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May |
19 |
Replaced the April 20 account payable to Locust with a 90-day, $35,000 note bearing 9% annual interest along with paying $500 in cash. |
||
July |
8 |
Borrowed $66,000 cash from NBR Bank by signing a 120-day, 10% interest-bearing note with a face 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 $24,000 cash from Fargo Bank by signing a 60-day, 8% interest-bearing note with a face value of $24,000. |
||
Dec. |
31 |
Recorded an adjusting entry for accrued interest on the note to Fargo Bank. |
2018
__?__ |
Paid the amount due on the note to Fargo Bank at the maturity date. |
Prepare journal entries for all the preceding transactions and events for 2017. (Do not round your intermediate calculations.)
Paid the amount due on the note to Locust at the maturity date.
Date |
General Journal |
Debit |
Credit |
Aug 17, 2017 |
|||
|
Paid the amount due on the note to NBR Bank at the maturity date.
Date |
General Journal |
Debit |
Credit |
Nov 05, 2017 |
|||
Borrowed $24,000 cash from Fargo Bank by signing a 60-day, 8% interest-bearing note with a face value of $24,000.
Date |
General Journal |
Debit |
Credit |
Nov 28, 2017 |
|||
|
Recorded an adjusting entry for accrued interest on the note to Fargo Bank.
Date |
General Journal |
Debit |
Credit |
Dec 31, 2017 |
|||
|
Tyrell Co. entered into the following transactions involving short-term liabilities in 2017 and 2018. 2017 Apr....
Tyrell Co, entered into the following transactions involving short-term liabilities in 2016 and 2017 2016 Apr. 20 Purchased $38.500 of merchandise on credit from Locust, terma n/30. Tyrell uses the perpetual inventory system. Nay 19 Replaced the April 20 account payable to Locust with a 90-day, $35,000 note bearing annual interest along with paying $3,500 in cash. July 8 Borrowed $66,000 cash from NBR Bank by signing a 120-day, 12 interest-bearing note with a face value of $66,000. ___ Paid...
Tyrell Co. entered into the following transactions involving short-term liabilities in 2017 and 2018. 2017 Apr. 20 Purchased $38,000 of merchandise on credit from Locust, terms n/30. Tyrell uses the perpetual inventory system. May 19 Replaced the April 20 account payable to Locust with a 90-day, $35,000 note bearing 9% annual interest along with paying $3,000 in cash. July 8 Borrowed $54,000 cash from NBR Bank by signing a 120-day, 10% interest-bearing note with a face value of $54,000. __?__...
Tyrell Co. entered into the following transactions involving short-term liabilities in 2016 and 2017 2016 Apr. 20 Purchased $38,500 of merchandise on credit from Locust, terms n/30. Tyrell uses the perpetual inventory system. May 19 Replaced the April 20 account payable to Locust with a 90-day, $35,000 note bearing 8 annual interest along with paying $3,500 in cash. July 8 Borrowed $66,000 cash from NBR Bank by signing a 120-day. 120 interest-bearing note with a face value of $66,000. __?_...
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, S35.000 note bearing 8% annual July 8 Borrowed $69,000 cash from NBR Bank by signing a 120-day, 10% interest-bearing note with a face inventory system. interest along with paying $2,000 in cash. value of $69, 000....
Tyrell Co, entered into the following transactions involving short-term liabilities in 2016 and 2017 2016 Apr. 20 Purchased $38.500 of merchandise on credit from Locust, terns n/30. Tyrell uses the perpetual inventory system. May 19 Replaced the April 20 account payable to Locust with a 90-day, $35,000 note bearing 81 annual interest along with paying $3,500 in cash. July 8 Borrowed $66,000 cash from NSR Bank by signing a 120-day, 128 interest-bearing note with a face value of $66,000. Paid...
Tyrell Co. entered into the following transactions involving short-term liabilities in 2016 and 2017. 2016 Apr. 20 Purchased $36,000 of merchandise on credit from Locust, terms n/30. Tyrell uses the perpetual inventory system. May 19 Replaced the April 20 account payable to Locust with a 90-day, $35,000 note bearing 9% annual interest along with paying $1,000 in cash. July 8 Borrowed $57,000 cash from NBR Bank by signing a 120-day, 12% interest-bearing note with a face value of $57,000. --...
Tyrell Co. entered into the following transactions involving short-term liabilities in 2016 and 2017. inve 2016 Apr. 20 Purchased $36,000 of merchandise on credit from Locust, terms n/30. Tyrell uses the perpetual inventory system. May 19 Replaced the April 20 account payable to Locust with a 90-day, $35,000 note bearing 9% annual interest along with paying $1,000 in cash. July 8 Borrowed $57,000 cash from NBR Bank by signing a 120-day, 12% interest-bearing note with a face value of $57,000....
Tyrell Co. entered into the following transactions involving short-term liabilities in 2016 and 2017. 2016 Apr. 20 Purchased $36,000 of merchandise on credit from Locust, terms n/30. Tyrell uses the perpetual inventory system. May 19 Replaced the April 20 account payable to Locust with a 90-day, $35,000 note bearing 9% annual interest along with paying $1,000 in cash. July 8 Borrowed $57,000 cash from NBR Bank by signing a 120-day, 12% interest-bearing note with a face value of $57,000. Paid...
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 $38,500 of merchandise on credit from Locust, terms n/30. Tyrell uses the perpetual inventory system. May 19 Replaced the April 20 account payable to Locust with a 90-day, $35,000 note bearing 8 annual interest along with paying $3,500 in cash. July 8 Borroved $66,000 cash from NBR Bank by signing a 120-day, 121...
Che Tyrell Co. entered into the following transactions involving short-term liabilities. Year 1 Apr. 20 Purchased $36,000 of merchandise on credit from Locust, terms n/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 9% , $ 35 ,000 note payable along with paying $1,e00 in cash. July 8 Borrowed $57,e00 cash from NBR Bank by signing a 120-day, 11%, $57,eee note payable. Paid the amount due on the note to Locust at the maturity date....