1 Sunland-on Ltd. sells rock climbing products and operates an indoor climbing facility for climbing enthusiasts. On July 1, 2021, Sunland-on received a three-month $12.000 bank loan from City Credit Union due on September 30, 2021, and bearing interest at 3%. Interest is payable at maturity. The company records adjusting entnes annually at its year end, December 31 During the next four months, Sunland-on incurred the following Sept. Purchased inventory on account for $15.000 from Black Diamond, terms 1/30. The company uses a perpetual Inventory system Repaid the $12.000 bank loan payable to City Credit Union (see opening balance), as well as any interest owed. Issued a six-month 4% $15,000 note payable to Black Diamond in exchange for the account payable (see September 1 transaction) Interest is payable on the first of each month Borrowed $22.000 cash from Montpelier Bank for 12 months at 3% to finance the building of a new climbing area for advanced climbers. Interest is payable monthly on the first of each month with the principal de in 12 30 Oct 1 2 months Nov 1 Dec 1 3 Paid interest on the Black Diamond note and Montpeller Bank loan Pald interest on the Black Diamond note and Montpeller Bank loan Received a $234.000 loan from Atlantic Bank for 12 months at 3% to help pay for a vehicle: Interest is payable quarterly at the end of each quarter, Recorded accrued interest for the stack Diamond note and the Montpeller and Atlantic loans 31 (a) Record the above transactions. (Post entries in the order presented in the problem statement Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Round answers to the nearest whole dollar, es 5.275.) Date Account Titles and Explanation Debit Debit Credil (a) Record the above transactions (b) Open Taccounts for the Interest Expense, Interest Payable, Bank Loans Payable, and Notes Payable accounts and enter any opening balances. Post the above entries. (c) Assuming there is no other interest expense than that recorded in the transactions above, show the income statement presentation of interest expense for the year ended December 31 (d) Show the current liability section of the statement of financial position as at December 31, listing balances of accounts affected by the above transactions