Determine the interest expense recorded in the adjusting entry at the end of Year $1.$

Note: Do not round intermediate calculations and round your final answer to nearest whole dollar. Use $360$ days a year.!

Required Information

$[$The following Information applles to the questions displayed below.$]$

Tyrell Company entered Into the following transactions Involving short$-$term Ilabillties.

Year $1$

April $20$ Purchased $$38,500$ of merchandise on credit from Locust, terms $\frac{n}{30}.$

May $19$ Replaced the April $20$ account payable to Locust with a $90-$day, $8\%,$ $$35,000$ note payable along with paying

$$3,500$ in cash.

July $8$ Borrowed $$69,00$ cash from NBR Bank by signing a $120-$day, $11\%,$ $$69,000$ note payable.

$\_?$ Paid the amount due on the note to Locust at the maturity date.

$-?-\_$ Paid the amount due on the note to NBR Bank at the maturity date.

November $\frac{?}{\text{b}\text{a}\text{r}}(28)$ Borrowed $$27,000$ cash from Fargo Bank by signing a $60-$day, $9\%,$ $$27,00$ note payable.

December $31$ Recorded an adjusting entry for accrued interest on the note to Fargo Bank.

Year $2$

$\_\_\_\_$ Paid the amount due on the note to Fargo Bank at the maturity date.

Determine the Interest expense recorded In the adjusting entry at the end of Year $1.$

Note: Do not round Intermedlate calculatlons and round your final answer to nearest whole dollar. Use $360$ days a year.