the january 1, year 1 trial balance for the wright company is found on the trial balance tab. the beginning balances are assumed. clark company entered into the following transactions involving short-term liabilities. (use 360 days a year.) year 1 april 20purchased $49,250 of merchandise on credit from walsh, terms n/30. may 19replaced the april 20 account payable to walsh with a 90-day, 14%, $37,000 note payable along with paying $12,250 in cash. july 8borrowed $99,000 cash from njr bank by signing a 120-day, 9%, $99,000 note payable. august 17paid the amount due on the note to walsh at the maturity date. november 5paid the amount due on the note to njr bank at the maturity date. november 28borrowed $57,000 cash from fargo bank by signing a 60-day, 8%, $57,000 note payable. december 31recorded an adjusting entry for accrued interest on the note to fargo bank. year 2 january 27paid the amount due on the note to fargo bank at the maturity d