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Tyrell Company entered into the following transactions involving short-term liabilities. Year...

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Accounting

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 n30.
May 19 Replaced the April 20 account payable to Locust with a 90-day, 8%, $35,000 note payable along with paying $2,500 in cash.
July 8 Borrowed $57,000 cash from NBR Bank by signing a 120-day, 11%,$57,000 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 ?bar(28) Borrowed $24,000 cash from Fargo Bank by signing a 60-day, 9%,$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.
\table[[Year End Accrual Required For:,Fargo Bank],[,Principal,,Rate,,Time,=,Interest],[Interest to be recorded in Year 2,,,%,,=,,]]
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