5 {The following information applies to the questions displayed below.) Tyrell Company entered into the following transactions involving short-term liabilities. Year 1 April 20 Purchased $36,000 of merchandise on credit from Locust, terns n/30 May 19 Replaced the April 20 account payable to Locust with a 90-day, % $35,000 note payable along with paying $1,000 in cash July 8 Borrowed $60,000 cash from Nar lank by signing a 120 day, 12%, 589,000 note payable Paid the amount due on the note to Locust at the maturity date 2 Paid the mount due on the note to NBR Bank at the maturity date November 28 Borrowed $27,000 cash from Fargo Bank by signing a 60 day: 2,527,000 note payable December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank 04 223:07 Year 2 Paid the mount due on the note to Fargo lank at the maturity dte 4. Determine the interest expense recorded in Year 2 (Do not round Intermediate calculations and round your final answers to nearest whole dollar. Use 360 days a year.) Year End Axual Required for Fargo Bank Hii Time Principal Irrest to be recorded in Year 2