Question: Year 1 April 2 0 Purchased ( $ 3 7 , 0 0 0 ) of merchandise on credit from Locust, terms

Year 1 April 20 Purchased \(\$ 37,000\) of merchandise on credit from Locust, terms n/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 9\%,\$35,000 note payable along with paying \(\$ 2,000\) 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 28 Borrowed \(\$ 33,000\) cash from Fargo Bank by signing a 60-day, 9\%,\(\$ 33,000\) 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.
Year 1 April 2 0 Purchased \ ( \ $ 3 7 , 0 0 0 \

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