Required information

Problem $9-1$A $($Algo$)$ Short$-$term notes payable transactions and entries LO P$1$

$[$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 $$37,500$ of merchandise on credit from Locust, terms $\frac{n}{30}.$

May $19$ Replaced the April $20$ account payable to Locust with a $90-$day, $7\%,$ $$35,000$ note payable along

with paying $$2,500$ in cash.

July $8$ Borrowed $$60,000$ cash from NBR Bank by signing a $120-$day, $12\%,$$$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 $\frac{?}{\text{b}\text{a}\text{r}}(28)$ Borrowed $$24,000$ cash from Fargo Bank by signing a $60-$day, $7\%,$$$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.

Problem $9-1$A $($Algo$)$ Part $4$

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.