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Abardeen Corporation borrowed $56,000 from the bank on October 1. Year 1 The note had an 6 percent annual rate of interest and matured on

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Abardeen Corporation borrowed $56,000 from the bank on October 1. Year 1 The note had an 6 percent annual rate of interest and matured on March 31 , Year 2 interest and principal were pald in cash on the maturity date Required a. What amount of cash did Abardeen pay for interest in Year 1? b. What amount of interest expense was recognized on the Year 1 income statement? (Do not round intermediate colculations. Round your onswer to the nearest dollor amount.) c. What amount of total liabilities was reported on the December 31, Year 1, balance sheet? (Do not round intermediote calculotions. Round your answer to the nearest dollar amount.) d. What total amount of cash was paid to the bank on March 31 , Year 2 for principal and interest expense was reported on the Year 2 income stotement? (Do not round intermediate calculations. Round your onswer to the nearest dollar amount.)

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