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Abardeen Corporation borrowed $85,000 from the bank on October 1, Yeaf 1. The note had an 10 percent annual rate of interest and matured on

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Abardeen Corporation borrowed $85,000 from the bank on October 1, Yeaf 1. The note had an 10 percent annual rate of interest and matured on March 3t, Year 2 . Iriterest and principal were paid in cach 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 calculations. Round your answer to the nearest dollar amount. c. What amount of total liablities was reported on the December 31, Ycar i, batance sheet? (Do not round intermediote colculations. Round your onswer to the nearest dollor 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? (Do not round intermediate colculotions. Round your onswer to the nearest dollar amount.)

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