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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. Year 1 April 20 Purchased $37,000 of merchandise on credit from Locust, terms n/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 9%, $35,000 note payable along with paying $2,000 in cash. July 8 Borrowed $60,000 cash from NBR Bank by signing a 120-day, 11%, $60,000 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 $24,000 cash from Fargo Bank by signing a 60-day, 8 %, $24,000 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. 4. Determine the interest expense recorded in Year 2. Note: Do not round intermediate calculations and round your final answers to nearest whole dollar. Use 360 days a year. Year End Accrual Required For: Interest to be recorded in Year 2 Principal x Rate Fargo Bank X % X Time Interest Check

Required information The following information ipplies to the questions clisplayed below] Tyrell Company entered into the followng transactions involving short-term liabilities. Yoar 1 Aprtl 20 Purchased $37,000 of eerchandise on credit from Locust, terms n/30. May 19 Replaced the April 20 occount payabte to Locust with a 90 -day, 92 , $35,000 note payabte along with paying $2,000 in cash. Juty 8 Borroned $60,000 cash fron Nen Bank by signing a 220 -day, 114 , $60,000 note payable. - P - Patd the atorint due on the note to tocust at the maturity date. - - Pald the anount due on the note to NaR Aank at the maturity date. Novenber 28 Borroved $24,000 cash tron Fargo bank by signing a 60 -day, 85 , $24,000 note payable. Decenter 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 - 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 calculations and round your final answers to nearest whole dollar, Use 360 days a year

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