Tyrell Co. entered into the following transactions involving short-term liabilities. to the questions displayed below.) Year 1 Apr. 20 Purchased $39,000 of merchandise on credit from Locust, terms n/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 94, $35,800 note payable along with paying $4,000 in cash. July 8 Borrowed $69,000 cash from NBR Bank by signing a 120-day, 12%, $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. Nov. 28 Borrowed $33,000 cash from Fargo Bank by signing a 60-day, 64, $33,000 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 calculatic Use 360 days a year.) Year End Accrual Required For: nterest to be accrued in Year 1 Fargo Bank Principal * Rate Time $ 33,000 61% 30/360 Interest