Abardeen Corporation borrowed $$61,000$ from the bank on October $1,$ Year $1.$ The note had an $4$ percent annual rate of interest and

matured on March $31,$ Year $2.$ Interest and principal were paid 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?

Note: Do not round intermediate calculations. Round your answer to the nearest dollar amount.

c$.$ What amount of total liabilities was reported on the December $31,$ Year $1,$ balance sheet?

Note: Do not round intermediate calculations. 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?

e$.$ What amount of interest expense was reported on the Year $2$ income statement?

Note: Do not round intermediate calculations. Round your answer to the nearest dollar amount.

a$.$ Amount of cash paid

b$.$ Interest expense

c$.$ Total liabilities

d$.$ Amount of cash paid

e$.$ Interest expenseAbardeen Corporation borrowed $$61,000$ from the bank on October $1,$ Year $1.$ The note had an $4$ percent annual rate of interest and matured on March $31,$ Year $2.$ Interest and principal were paid in cash on the maturity date.

Required

What amount of cash did Abardeen pay for interest in Year $1?$

What amount of interest expense was recognized on the Year $1$ income statement?

Note: Do not round intermediate calculations. Round your answer to the nearest dollar amount.

What amount of total liabilities was reported on the December $31,$ Year $1,$ balance sheet?

Note: Do not round intermediate calculations. Round your answer to the nearest dollar amount.

What total amount of cash was paid to the bank on March $31,$ Year $2,$ for principal and interest?

What amount of interest expense was reported on the Year $2$ income statement?

Note: Do not round intermediate calculations. Round your answer to the nearest dollar amount.