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(ine fonowing inrormation appures to the questions aispiayea deiow. Tyrell Company entered into the following transactions involving short-term liabilities. Year 1 April 20 Purchased $39,500 of merchandise on credit from Locust, terns n/30. May 19 Replaced the April 20 account payable to Locust with a 96-day, 74, $35,800 note payable along with paying $4,500 in cash. July 8 Borrowed $54,600 cash fron NBR Bank by signing a 120-day, 11%,$54,600 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. December 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. Problem 9-1A (Algo) Part 3 3. Determine the interest expense recorded in the adjusting entry at the end of Year 1 . (Do not round intermediate calculations and round your final answer to nearest whole dollar. Use 360 days a year.) Required information Problem 9-1A (Algo) Short-term notes payable transactions and entries LO P1 [The following information applies to the questions displayed below.] Tyrell Company entered into the following transactions involving short-term liabilities. Year 1 April 20 Purchased $39,500 of merchandise on credit from Locust, terms n/30. May 19 Replaced the April 20 account payable to Locust with a 90 -day, 74, $35,000 note payable along with paying $4,500 in cash. July 8 Borrowed $54,000 cash from NBR Bank by signing a 120-day, 11\%, $54,000 note payable. - P 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. November 28 Borrowed $21,000 cash fron Fargo Bank by signing a 60 -day, 7\%, $21,000 note payabte. December 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. Problem 9-1A (Algo) Part 4 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.) Problem 9-1A (Algo) Short-term notes payable transactions and entries LO P1 [The following information applies to the questions displayed below. Tyrell Company entered into the following transactions involving short-term liabilities. Year 1 April 20 Purchased $39,500 of merchandise on credit from Locust, terms n/30. May 19 Replaced the April 20 account payable to Locust with a 90 day, 78,$35,000 note payable along with paying $4,500 in cash. July 8 Borrowed $54,000 cash from NBR Bank by signing a 120-day, 11\%, $54,000 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. November 28 Borrowed $21,000 cash from Fargo Bank by signing a 60-day, 74, $21,000 note payable. December 31 Recorded an adjusting entry for acerued interest on the note to Fargo Bank. Year 2 - - Paid the amount due on the note to Fargo Bank at the maturity date. roblem 9-1A (Algo) Part 5 Prepare journal entries for all the preceding transactions and events. (Do not round your intermediate calculations.) Journal entry worksheet

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