These are selected transactions of Crane Company. Crane prepares financial statements quarterly. Jan. 2 Purchased merchandise on account from Nunez Compary, $18,000, terms 2/10,n/30. (Crane uses the perpetual im Feb. 1 Issued a 9%,2-month, $18,000 note to Nunez in payment of account. Mar. 31 Accrued interest for 2 months on Nunez note. Apr. 1 Paid face value and interest on Nunez note. July 1 Purchased equipment from Marson Equipment paying $10,000 in cashand signing a 10\%, 3-month, 548,000 note. Sept. 30 Accrued interest for 3 months on Marson note. Oct. 1 Paid face value and interest on Marson note. Dec. 1 Borrowed $18,000 from the Paola Bank by issuing a 3-month, 8% note with a face value of $18,000. Dec. 31 Recognized interest expense for 1 month on Paola Banknote. Post to the accounts Notes Payable, Interest Payable, and Interest Expense, (Post entries in the order of journul entries presented in the previous part.) Show the batance sheet presentation of notes and interest payable at December 31. What is total interest expense for the vear