1) For each of the transactions below, identify whether you would report it as an expense (E), a liability (L), or a "change" item (C), the name of the account that you would use to report it, and on which financial statement it would appear. (Points: 27) a. The farm accountant receives the telephone bill and pays the bill immediately. b. The farm operation owes $310 to the local cooperative at the end of the year. c. The farm accountant compares the $500 accounts payable owed at the beginning of the year to the $310 owed at the end of the year. d. The farm accountant pays the bill in (b) after the beginning of the year. e. The farm accountant pays the feed bill. f. The farm accountant estimates that the farm operation owes $2,800 in income taxes at the end of the year. The farm accountant compares the $3,100 taxes payable at the beginning of the year to the $2,800 owed at the end of the year. g. The farm accountant pays the income taxes. h. The farm accountant estimates that the farm operation owes $5,000 in interest at the end of the year. i. The farm accountant pays off a loan including interest