26 (1 point) WestJet sold two air tickets for cash on November 30, 2018. One ticket of $500 is for a flight on March 31, 2019. The other ticket of $400 is for a flight on January 31, 2020. WestJet has its financial year end on December 31. What would WestJet report regarding these two transactions on Dec 31, 2018: Revenues of $500. Revenue of $900. A current asset of $500 and a long-term asset of $400. A current liability of $500 and a long-term liability of $400. A long-term liability of $900. Which of the following statements is true about installment payments? None of the answers are correct. With fixed principal payments on a long-term note payable, the interest portion does not change each period. With fixed principal payments on a long-term note payable, the interest portion increases each period. O With fixed principal payments on a long-term note payable, the principal portion increases each period. With fixed principal payments on a long-term note payable, the interest portion decreases each period. A company issued bonds with a face value of $100,000. The bonds were sold at a premium. Because of this: The interest paid on the bonds will be greater than the interest expense recorded by the company on the bonds The interest paid on the bonds will be lower than the interest expense recorded by the company on the bonds None of the answers are correct The interest paid on the bonds will be greater than the interest expense recorded by the company on the bonds during the first half of the bond's life but during the second half of the bond's life, the interest paid will be lower than the interest expense recorded by the company on the bonds The interest paid on the bonds will be equal to the interest expense recorded by the company on the bonds