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Ehler Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. During the last part of 2017, Ehler had the following transactions related to notes payable. Sept. 1 Sept. 30 Oct. 1 Oct. 31 Nov. 1 Issued a $12,000 note to Pippen to purchase inventory. The 3-month note payable bears interest of 6% and is due December 1. (Ehler uses a perpetual inventory system.) Recorded accrued interest for the Pippen note. Issued a $16,500, 8%, 4-month note to Prime Bank to finance the purchase of a new climbing wall for advanced climbers. The note is due February 1. Recorded accrued interest for the Pippen note and the Prime Bank note. Issued a $26,000 note and paid $8,000 cash to purchase a vehicle to transport clients to nearby climbing sites as part of a new series of climbing classes. This note bears interest of 6% and matures in 12 months. Nov. 30 Recorded accrued interest for the Pippen note, the Prime Bank note, and the vehicle note. Dec. Paid principal and interest on the Pippen note. Dec. 2 Recorded accrued interest for the Prime Bank note and the vehicle note. Prepare journal entries for the transactions noted above. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Credit Debit 12000 Interest Payable Inventory Notes Payable 12000 Sept. 30 Interest Expense Interest Payable Oct. 1 Cash 16500 Notes Payable 16500 Oct. 31 Interest Expense Interest Payable Nov. 1 asset 34000 Notes Payable 26000 cash 8000 Nov. 30 Interest Expense 300 Interest Payable 300 Dec. 1 Notes Payable 12000 Interest Payable 180 cash 12180 Post the above entries to the Notes Payable, Interest Payable, and Interest Expense accounts. (Post entries in the order of journal entries posted in the previous part of the question.) Notes Payable 9/1 Note issued t 10/1 11/1 12/1 Interest Expense Interest Payable Show the balance sheet presentation of notes payable and interest payable at December 31. EHLER CORPORATION Balance Sheet (Partial) For the Year Ended December 31, 2017 | Current Liabilities Notes Payable 42500 Interest Payable 590 LINK TO TEXT LINK TO TEXT How much interest expense relating to notes payable did Ehler incur during the year? Interest expense incurred during the year 770