On October $1$st$,2020,$ Porcupine, Inc. borrows $$20,000$ from the bank, signing a four year note payable at $6\%$ annual interest. Interest on the note payable is paid every September $30$th and the first interest payment will occur on September $30$th$,2021.$ Assume that the firm has an annual accounting period which ends on December $31$st and adjusting entries are only made at the end of the accounting period on December $31$st$.$ No adjusting entry has been made yet. How much interest expense should Porcupine record for the annual accounting period ended December $31,2020?$