! Required information [The following information applies to the questions displayed below) Tyrell Co. entered into the following transactions involving short-term kabilities Year 1 Apr. 2e Purchased 536,500 of merchandise on credit from Locust, terms /. May 19 Replaced the April 20 account payable to locust with a 5-day, 5%, 535,000 note payable along with paying $1,5ee in cash July 8 Borrowed $54,000 cash from NSR Bank by signing a 120-day, 11%, $56.000 note payable. Paid the amount due on the note to Locust at the maturity date. Paid the amount due on the note to NSR Bank at the maturity date. Nov. 28 Borrowed $24,000 cash from Fargo Bank by signing 60-day, 7%, $24,000 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. 3. Determine the interest expense recorded in the adjusting entry at the end of Year 1 (Do not round your intermediate calculations. Use 360 days a year.) Year End Accrual Required for: Fargo Bank Time Principal X Rate Interest Interest to be accrued in Yeart