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 Apri1 20 account payable to Locust with a 90 -day, 98,$35,009 note payable along with paying $2,500 in cash. July 8 Borrowed $66,000 cash from NBR Bank by signing a 120 -day, 12x, $66, 000 note payable. - Pald the amount due on the note to locust at the maturity dote. Paid the amount due on the note to NBR Bank at the maturity date. November. 28 Borrowed $24,090 cash from Fargo Bank by, signing a 6a-day, 98,$24,000 note payable. December 31 Recorded an adjusting entry for acerued interest on the note to Fargo Bank. Year 2 -? Pald the amount due on the note to targo Bank at the maturlty dote. 3. Determine the interest expense recorded in the adjusting entry at the end of Year 1 : Note: Do not round intermediate colculations and round your final answer to nearest whole dollar. Use 360 days o year, 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 tocust ith a 90 -day, 98, s35, eea note payable along idth paying $2,500 in cash. July bi Borrowed $66,060 cash from NBR Bank by signing o 120-day, 22%. $66, 000 note payable. - Pald the amount due on the note to locust at the moturity date. - - Paid the amount due on the note to N8r Sank at the maturity date. November 28 Borrowed $24, 000 cash from Fargo bank by 5 igning a 60 -day, 9%,$24, 000 note-payable. Decenber 31 Recorded an sdjusting entry for accrued interest on the note to fargo Bank. Year 2 - P Paid the anount due on the note to fargo bank at the maturity date. 4. Determine the interest expense recorded in Year 2. Note: Do not round intermediate colculations and round your final onswers to nearest whole dollor. Use 360 days a year