Barton Company has a line of credit with Sea View Bank. Barton can borrow up to $200,000 at any time over the course of Year 2 . Th following table shows the interest rate expressed as an annual percentage along with the amounts borrowed and repaid during the fir three months of Year 2. Funds are borrowed or repaid on the first day of each month. Interest is payable in cash on the last day of the The interest rate is applied to the outstanding monthly balance. Based on this information, the amount of interest expense Barton would recognize in January is Barton Company has a line of credit with Sea View Bank. Barton can borrow up to $200,000 at any time over the course of Year 2 . Th following table shows the interest rate expressed as an annual percentage along with the amounts borrowed and repaid during the fir three months of Year 2. Funds are borrowed or repaid on the first day of each month. Interest is payable in cash on the last day of the The interest rate is applied to the outstanding monthly balance. Based on this information, the amount of interest expense Barton would recognize in January is