Required informetion Problem 9-1A (Static) Short-term notes payable transactions and entries LO P1 [The following information applies to the questions displayed below] Tyrell Company entered into the following transactions involving short-term liablities. Year 1 Apri1 20 Purchased 540,250 of merchandise on credit froa Locust, terts n/39. May 19 Replaced the April 20 account payable to Locust with a 99 -day, 10x, 535 , 0e9 note payabie along with payine $5,250 in cash. ? Pald the anount due on the note to Locust at the maturity date. - Paid the anount due on the note to ler Bank at the maturity date. Noveaber 28 Borrowed $42,090 cash fron fargo Bank by signing a 60 -day, 8x, $42,000 note payable. December 31 Recorded an adfusting entry for accrued interest on the note to Fargo Bank. Year 2 -2. Pafid the anount due on the note to Fargo Bank at the maturity date. Problem 9-1A (Static) Part 3 3. Determine the interest expense recorded in the adjusting entry ot the end of Year 1. Note: Do not round your intermediate calculations. Use 360 days a year