[The following information applies to the questions displayed below.] Tyrell Co. entered into the following transactions involving short-term liabilities Year 1 Apr. 20 Purchased $38,000 of merchandise on credit from Locust, terms n/30 May 19 Replaced the April 20 account payable to Locust with a 90-day, 88, $35,000 note payable along with paying $3,000 in cash. July 8 Borrowed $66,000 cash from NBR Bank by signing a 120-day, 10%, $66,000 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. Nov. 28 Borrowed $30,000 cash from Fargo Bank by signing a 60-day, 88, $30,000 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. 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.) Year end accrual required for: Fargo Bank Principal x Rate xl Time |=| Interest Interest to be recorded in Year 2 Required information The following information applies to the questions displayed below] Tyrell Co. entered into the following transactions involving short-term liabilities. Year 1 Apr. 20 Purchased $38,000 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 $3,000 in cash. July 8 Borrowed $66,000 cash from NBR Bank by signing a 120-day, 10%, $66,000 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 Nov. 28 Borrowed $30,000 cash from Fargo Bank by signing a 60-day, 8%, $30,000 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. 5. Prepare journal entries for all the preceding transactions and events. (Do not round your intermediate calculations.) View transaction list View journal entry worksheet No nate nahit Cradit