Sandhill Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. During the last part of 2022, Sandhill had the following transactions related to notes payable. Sept. 1 Sept. 30 Oct. 1 Oct. 31 Nov. 1 Issued a $14,400 note to Pippen to purchase inventory. The 3-month note payable bears interest of 6% and is due December 1. (Sandhill uses a perpetual inventory system.) Recorded accrued interest for the Pippen note. Issued a $19,200, 8%, 4-month note to Prime Bank to finance the purchase of a new climbing wall for advanced climbers. The note is due February 1. Recorded accrued interest for the Pippen note and the Prime Bank note. Issued a $25,200 note and paid $8,700 cash to purchase a vehicle to transport clients to nearby climbing sites as part of a new series of climbing classes. This note bears interest of 6% and matures in 12 months. Recorded accrued interest for the Pippen note, the Prime Bank note, and the vehicle note. Paid principal and interest on the Pippen note. Recorded accrued interest for the Prime Bank note and the vehicle note. Nov. 30 Dec. 1 Dec. 31 Prepare journal entries for the transactions noted above. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Debit Credit Account Titles and Explanation Inventory Sept. 1 14400 Notes Payable 14400 Sept. 30 Interest Expense 96 Interest Payable 96 Oct. 1 Equipment 19200 Notes Payable 19200 Oct. 31 Interest Expense 258 Interest Payable 258 Nov. 1 Equipment 33900 Notes Payable 25200 Cash 8700 Nov. 30 Interest Expense 396 Nov. 30 Interest Expense 396 Interest Payable 396 Dec. 1 Notes Payable 14400 Interest Payable 288 Cash 14688 Dec. 31 Interest Expense 300 Interest Payable 300 e Textbook and Media List of Accounts Post the above entries to the Notes Payable, Interest Payable, and Interest Expense accounts. (Post entries in the order of journal entries posted in the previous part of the question.) Notes Payable 12/1 14400 9/1 14400 1.69/3 E e Textbook and Media List of Accounts X Your answer is incorrect. How much interest expense relating to notes payable did Sandhill incur during the year? Interest expense incurred during the year $ 1050 e Textbook and Media List of Accounts Save for Later Attempts: unlimited Submit