accounting

Pattison Produce requires a minimum cash balance of at least $30,000 as of the end of each quarter. At the beginning of the 1st quarter, Pattison's cash balance was $35,000. During the 1st quarter, Pattision collected receipts of $330,000 and made disbursements of $290,000. In the 2 nd quarter, Pattison collected receipts of $285,000 and made disbursements of $340,000. As a result, Pattison was required to borrow money at the end of the 2 nd quarter. Collections in excess of disbursements during the 3rd quarter were sufficient for Pattision to pay off its borrowings at the end of the 3rd quarter. Using an interest rate of 8%, how much interest expense did Pattision pay at the end of the 3rd quarter