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Required information [The following information applies to the questions displayed below] Tyrell Company entered into...

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Accounting

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Required information [The following information applies to the questions displayed below] Tyrell Company entered into the following transactions involving short-term liabilities. Yoar 1 April 20 Purchased $38,500 of merchandise on credit from Locust, terns n/30. May 19 Reptaced the April 20 account payable to Locust with a 98 -day, 8%,$35,000 note payable along with paying $3,500 in cash. July 8 Borrowed $54, 0 ee cash from NBR Bank by 5 igning a 128 -day, 12%,$54,008 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 $33,000 cash trom Fargo Bank by signing a 60 -day, 7%,$33,090 note payable. 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. Determine the interest expense recorded in the adjusting entry at the end of Year 1. Jote: Do not round intermediate calculations and round your final answer to nearest whole dollar. Use 360 days a year

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