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Business, 21.05.2020 22:11 jordystafford8186

Year 1 Apr. 20 Purchased $36,500 of merchandise on credit from Locust, terms n/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 8%, $35,000 note payable along with paying $1,500 in cash. July 8 Borrowed $57,000 cash from NBR Bank by signing a 120-day, 11%, $57,000 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. Nov. 28 Borrowed $24,000 cash from Fargo Bank by signing a 60-day, 7%, $24,000 note payable. Dec. 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank

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Year 1 Apr. 20 Purchased $36,500 of merchandise on credit from Locust, terms n/30. May 19 Replaced t...

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