18. on September 30, World Co. borrowed $1,000,000 on a 9% note payable. world paid the first of four quarterly payments of $264,200 when due on December 30. In its income statement for the year, what amount should World report as interest expense? A. $0 B. $30,000 C. $14,200 D. $22,500 19. Federal income taxes withheld by the employer on behalf of the employee are recorded as A. revenues B. unearned revenues. C, receivables D. current liabilities 20. Which of the following items is NOT a main financial statement? A. Income Statement B. Bank Statement C. Balance Sheet D. Statement of Cash Flows 21. Reich, Inc. issued bonds with a maturity amount of $200,000 and a maturity ten years from date of issue. If the bonds were issued at a premium, this indicates that A. no necessary relationship exists between the two rates. B. the effective yield or market rate of interest exceeded the stated (nominal) rate. C. the stated rate of interest exceeded the market rate. D. the market and nominal rates were the same