Tyrell Co. entered into the following transactions involving short-term liabilities. Year 1 Apr. 20 Purchased $37,500 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 $2,500 in cash. July 8 Borrowed $54,000 cash from NBR Bank by signing a 120-day, 12%, $54,000 note payable. __
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Tyrell Co. entered into the following transactions involving short-term liabilities. Year 1 Apr. 20...
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