Montag Co. entered into the following transactions involving short-term liabilities in 2008 and 2009. 2008 Apr. 20 Purchased $48,250 of merchandise on credit from Locust, terms are 1/10, n/30. Montag uses the perpetual inventory system. May 19 Replaced the April 20 account payable to Locust with a 120-day, $39,000 note bearing 9% annual interest along with paying $9,250 in cash. July 8 Borrowed $120,000 cash from National Bank by signing a 120-day, 8.5% interest-bearing note with a face value of $120,000. __?__ Paid the amount due on the note to Locust at the maturity date. __?__ Paid the amount due on the note to National Bank at the maturity date. Nov. 28 Borrowed $60,000 cash from Fargo Bank by signing a 60-day, 8% interest-bearing note with a face value of $60,000. Dec. 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. 2009 __?__ Paid the amount due on the note to Fargo Bank at the maturity date. Requirement 1: Determine the maturity date for each of the three notes described.
