[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 $37,500 of merchandise on credit from Locust, terms n/30.

May 19 Replaced the April 20 account payable to Locust with a 90-day, 8%, $35,000 note payable along with paying $2,500 in cash.

July 8 Borrowed $69,000 cash from NBR Bank by signing a 120-day, 11%, $69,000 note payable.

__?__ Paid the amount due on the note to Locust at the maturity date.

__?__ Paid the amount due on the note to NBR Bank at the maturity date.

November 28 Borrowed $24,000 cash from Fargo Bank by signing a 60-day, 7%, $24,000 note payable.

December 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.

Problem 9-1A (Algo) Part 3

3. Determine the interest expense recorded in the adjusting entry at the end of Year 1.

Note: Do not round intermediate calculations and round your final answer to nearest whole dollar. Use 360 days a year.

[The following information applles to the questions displayed below/ Tyrell Company entered into the following transactions involving short-term liabilities. Year 1 April 20 Purehaned $37,500 of nerehandise on eredit fron locuet, teran n/30. May 19 Replaced the Apr11 20 account payable to Loeust with a 90 -day, 01, 535, 000 aote payable along with paying $2,500 in eaah. July B Borroved 569,000 eanh from kak nank by algning a 120-day, 11, , 169,000 note peyable. - ? - Paid the amount due on the note to tocust at the naturity date. Novenber 28 pard the anount due on the note to kiph Hank at the asturity date. December 31 Mecorded an adjuating fron Yargo Bank by signing a 60day,70,924,000 note gayable. Year 2 - 7 - Paid. the anount due on the note to Fargo Bank at the matarity date. Problem 9-1A (Algo) Part 3 3. Determine the interest expense recorded in the adjusting entry ot the end of Yoar 1 . Note: Do not round intermediate calculations and round your final answer to nearest whole dollat, Use-360 days a year