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Tyrell Company entered into the following transactions involving short-term liabilities Year 1 April 20 Purchased $37,500 of merchandise on credit froe tocust, terms n/30. May 19 Replaced the Apri1 20 account payable to Locust with a 90 -day, 9x,$35,000 note payable along with paying $2,500 in cash. July 8 Borrowed $63,000 cash from NER Bank by signing a 120-day, 11x, $63,090 note payable. - Paid the anount due on the note to locust at the maturity date. November 28 Paid the amount due on the note to NR Bank at the maturity date. Deceaber 31 Recorded an adfusting frontry forgo Bank by signing a 60-day, 8x,$24,000 note payable. Year 2 -? Paid the asount due on the note to fargo Bank at the maturity date. 3. Determine the interest expense recorded in the adjusting entry at the end of Year 1 . (Do not round intermediate calculotions and round your final answer to nearest whole dollar. Use 360 days a yeor.)