payabie transactions and entries LO P (The following information applies to the questions displayed below Tyrell Co entered into the following transactions involving short term liabities Year 1 Apr. 20 Purchaned S38,500 of xerchandise on credit from Locust, tems n/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 83, $35, 000 note payable along with paying $3,500 in cash. July 8 Borrowed $54,000 cash from NBR Bank by signing a 120-day, 124, $54,000 note payable. Paid the amount due on the note to Locust at the saturity dat. Paid the amount due on the note to NBR Bank at the naturity date. Nov. 28 Borrowed $27,000 cash from Fargo Bank by signing a 60-day, 61, $27,000 note payable. Dec. 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. Problem 11-1A Part 4 4. Determine the interest expense recorded in Year 2. (Do not round intermediete calculetions and round your finel answers to nearest whole dollar. Use 360 deys a year.) Year end accrual required for: Fargo Bank Principal Rate Time Interest x Interest to be recorded in Year 2 %x