1. The account Discount on Notes Payable is: a.b.c.d.acontingentliability.anassetbecauseithasadebitbalance.acontraliability.amortizedtoreduceinterestexpenseoverthelifeofanote. 2. On July 1, Tau, Inc., purchased a machine for $12,000 and issued in payment a one-year note payable for $13,200. On August 31 , the company's fiscal year-end, the proper entry would be: 3. Moore Realty just completed the purchase of an apartment complex on August 1 for $100,000 down and an 11%,20-year, $400,000 mortgage note. The note requires monthly principal and interest payments of $4,129, with interest computed on the unpaid note balance. The entry to record the September 1 payment would he- 4. On March 1, 20X4, Grand Junction Railroad issued $50,000 of 8%,10-year bonds dated March 1 for $43,769. Interest is payable on March 1 and September 1. If Grand Junction uses the straight-line method of amortization, how would these bonds appear on the September 1, 20X4, balance sheet? (Round all calculations to the nearest dollar.)