Required information Problem 11-1A Short-term notes payable transactions and entries L.O. P1 (The following information applies to the questions displayed below.) Tytus Co. entered into the following transactions involving short-term liabilities in 2014 and 2015. 2014 Apr. 20 Purchased $35,500 of merchandise on credit from Frier, terms are 1/10, n/30. Tytus uses the perpetual inventory system. May 19 Replaced the April 20 account payable to Frier with a 90-day, $30,000 note bearing 9% annual interest along with paying $5,500 in cash. July 8 Borrowed $57,000 cash from Community Bank by signing a 120-day, 11% interest-bearing note with a face value of $57,000. Paid the amount due on the note to Frier at the maturity date. Paid the amount due on the note to Community Bank at the maturity date. Nov. 28 Borrowed $24,000 cash from UMB Bank by signing a 60-day, 8% interest- bearing note with a face value of $24,000. Dec. 31 Recorded an adjusting entry for accrued interest on the note to UMB Bank. 2015 ? Paid the amount due on the note to UMB Bank at the maturity date. Problem 11-1A Part 3 3. Determine the interest expense to be recorded in the adjusting entry at the end of 2014. (Enter O if no interest is to be accrued. Use 360 days a year. Do not round your intermediate calculations. Round your final answers to 2 decimal places. Omit the "$" sign in your response.) Frier UMB Total Accrued interest expense Com Bank $ $