Required information [The following information applies to the questions displayed below.] Tyrell Company entered into the following transactions involving short-term liabilities. Year 1 April 20 purchased $38,500 of merchandise on credit from Locust, terms n/30. May 19 Replaced the April 20 account payable to Locust with a 90 -day, 78,$35,000 note payable along with paying $3,500 in cash. July 8 Borrowed $57,000 cash from NBR Bank by signing a 120-day, 108, $57,000 note payable. - 2 - Paid the amount due on the note to Locust at the maturity date. Paid the amount due on the note to MBR Bank at the maturity date. November 28 Borrowed $30,000 cash from Fargo Bank by signing a 60-day, 88,$30,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 3. Determine the interest expense recorded in the adjusting entry at the end of Year 1. (Do not round intermediate calculations round your final answer to nearest whole dollar. Use 360 days a year.) Required information [The following information applies to the questions displayed below] Tyrell Company entered into the following transactions involving short-term liabilities. Year 1 Apri1 20 Purchased $38,500 of merchandise on oredil fron Locust, teran n/30. May 19 Replaced the April 20 account payable to Locust with a 90 -day, 71,535,000 note payable along with paying $3,500 in cash. July 8 Borrowed $57,000 cash from KBr Bank by nigning a 120-day, 101, $57,000 note payable. - Paid the amount due on the note to locust at the maturity date. Pald the amount due on the note to Rock Bank at the maturity date. Novenber 28 Borrowed $30,000 eanh from Pargo Bank by signing a 60 -day, 8t, $30,000 note payable. December 31 Recorded an adjusting entry for acorued interest on the note to Fargo Bank. Year 2 -7. Paid the amount due on the note to Fargo Bank at the maturity date. 4. Determine the interest expense recorded in Year 2. (Do not round intermediate calculations and round your final answers to nearest whole dollar. Use 360 days a year.) Required information [The following information applies to the questions displayed below.] Tyrell Company entered into the following transactions involving short-term liabilities. Year 9 April 20 purchased 538,500 of merchandine on oredit from Locust, terme n/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 76, $35,000 note payable along with paying $3,500 in eash. July 8 Borrowed $57,000 cash fron NBR Bank by signing a 120-day, 108, $57,000 note payable. ? P Paid the amount due on the note to Locust at the maturity date. ? Paid the amount due on the note to BBR Bank at the maturity date. November 28 Dorrowed $30,000 cash from Fargo Bank by iligning a 60-day, as, $30,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Pargo Bank. Year 2 ? Paid the amount due on the note to Fargo Bank at the maturity date. Prepare journal entries for all the preceding transactions and events. (Do not round your intermediate calculations.)