Artie Jackson started Jackson company on January 1st 2014 the company experience the following events during its first year of operation 1. earned $1,700 of cash revenue for performing services 2. borrow $2,200 cash from the bank 3. adjusted the accounting records to recognized accrued interest expense on the banknote the note issued on August 1st 2014 had a one-year term and a 9% annual interest rate

a. what is the amount of interest expense in 2014? b. what amount of cash was paid for interest in 2014? c. use a horizontal statements model to show how each event affects the balance sheet and income statement and statements of cash flows indicate whether the event increases decreases or does not affect each element of the financial statements and the cash flows column designate the cash flows as operating activities investing activities or financing activities the letters and a indicate that an element is not affected by the event