Required information The following information applies to the questions displayed below! Tyrell Coentered into the following transactions involving short-term liabilities. Year 1 Apr 20 Purchased 537.500 of merchandise on credit from Locust, teras n/30. May 19 Replaced the April 20 account payable to locut with a se day. 7, 335,000 note payable along with paying $2,500 in cash. July Borrowed 554, Bee cash from NBR Bank by signing a 120 day, 11N, 554,000 note payable Paid the amount due on the note to Locust at the maturity date. Paid the amount due on the note ta NBR Bank at the maturity date. Nov. 20 Borrowed $27.000 cash from Fargo Bank by signing a 60.day, 8, 327,000 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 Falestins lewens 0 5 6 3 7 8 t Y o f 00 h K