Tytus co entered into the following transactions involving

Reference no: EM13580840

Tytus Co. entered into the following transactions involving short-term liabilities in 2010 and 2011. 2010 Apr. 20 Purchased $37,000 of merchandise on credit from Frier, terms are 1/10, n/30. Tytus uses the perpetual inventory system. May 19 Replaced the April 20 account payable to Frier with a 90-day, $30,000 note bearing 9% annual interest along with paying $7,000 in cash. July 8 Borrowed $51,000 cash from Community Bank by signing a 120-day, 12% interest-bearing note with a face value of $51,000.?Paid the amount due on the note to Frier at the maturity date. ?Paid the amount due on the note to Community Bank at the maturity date. Nov. 28 Borrowed $33,000 cash from UMB Bank by signing a 60-day, 7% interest-bearing note with a face value of $33,000. Dec. 31 Recorded an adjusting entry for accrued interest on the note to UMB Bank. 2011?Paid the amount due on the note to UMB Bank at the maturity date. 1.value: 15.00 points Required: 1. Determine the maturity date for each of the three notes described. Frier Com. Bank UMB Maturity date 2. Determine the interest due at maturity for each of the three notes. (Use 360 days a year. Do not round your intermediate calculations. Omit the "tiny_mce_markerquot; sign in your response.) Frier Com. Bank UMB Interest due at maturity?

Reference no: EM13580840

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