Tytus Co. entered into the following transactions involving short term liabilities in 2014 and 2015. 2014 Apr 20 Purchased $38,500 of merchandise on credit from Frier terms are 110, n/30. Tytus uses the perpetual inventory system. May t9 Replaced the April 20 account payable to Frier with a 90- day, $30,000 note bearing 9% annual interest along with paying $8,500 in cash. July8 Borrowed $60,000 cash from Community Bank by signinga 120-day, 10% interest-bearing note with a face value of 60,000. Paid the amount due on the note to Frier at the maturity date Paid the amount due on the note to Community Bank at the maturity date day, 8% interest-bearing note with a face value of $21,000. to UMB Bank. Nov 28 Borrowed $21,000 cash from UMB Bank by signing a 60- ec 3 Recorded an adjusting entry for accrued interest on the note 2015 --Paid the amount due on the note to UMB Bank at the maturity date 6.25 points 4. Determine the interest expense to be recorded in 2015. (Use 360 days a year. Do not round your intermediate calculations. Omit the "$" sign in your response.) Interest expense in 2015 References