Required information Problem 9-1A Short-term notes payable transactions and entries LO P1 [The following information applies to the questions displayed below) Tyrell Co entered into the following transactions involving short-term liabilities. Year 1 Apr. 20 Purchased $36,500 of merchandise on credit from Locust, terns /30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 7%, 535,000 note payable along with paying $1,500 in cash July 8 Borrowed $54,000 cash from 18 Bank by signing a 120-day, sex, 554,000 note payable Paid the amount due on the note to locust at the maturity date. Paid the amount due on the note to R Bank at the maturity date. Nov. 28 Borrowed 524,000 cash from Fargo Bank by signing a 60-day, 3, 524,000 note payable Dec. 31 Recorded an adjusting entry for accrued interest on the note to Fango Bank Year 2 Paid the amount due on the note to Fargo Bank at the naturity date. Problem 9-1A Part 4 4. Determine the interest expense recorded in Year 2. (Do not round intermediate calculations and round your final answers to nearest whole doller. Use 360 days a year.) Year end accrual required for Interest to be recorded in Year 2 Principal Rate Fargo Bank Time 96 Interest