Bill Darby started Darby Company on January 1 Year 1 The company experienced the following events dunng its first year of operation 1. Earned $1100 of cash revenue. 2. Borrowed $2,800 cash from the bank 3. Adjusted the accounting records to recognize accrued interest expense on the bank note. The note, issued on September 1 Year 1 had a one year term and an 5 percent annual interest rate Required a. What is the amount of interest payable at December 31, Year 1? b. What is the amount of interest expense in Year 1? c. What is the amount of interest paid in Year 1? d. Use a horizontal statements model to show how each event affects the balance sheet income statement, and statement of cash flows Indicate whether the event increases (l) or decreases (D) each element of the financial statements in the Statement of Cash Flows column, classify the cash flows as operating activities (OA), investing activities (A) or financing activities (FAL Columns for events that have no effect on any of the elements should be left blank. The first transaction has been recorded as an example Complete this question by entering your answers in the tabs below. Reg A to Red D What is the amount of interest payable at December 31, Year 1? (Do not round Intermediate calculations, Round your answer to the nearest dollar amount.) What is the amount of interest expense in Year 17 (Do not round intermediate calculations. Round your answer to the nearest dollar amount.) What is the amount of interest paid in Year 17 b Interest payable Interest expense Amount of cash paid ReqD> Emned $100 of cash revenue 2. Borrowed 52 800 cash from the bank 3. Adjusted the accounting records to recognize accrued interest expense on the bank note. The note, issued on September Yeart had a one year term and an 5 percent annual interest rate Required . What is the amount of terest payable at December 31 Year 13 h. What is the amount of interest expense in Year 1 c. What is the amount of interest paid in Year d. Use a horontal statements model to show how each event affects the balance sheet, income statement, and statement of cash Bows indicate whether the event increases or decreases D each element of the financial statements. In the Statement of Cash Flows column Classify the cash flows as operating activities investing activities (A) or financing activities FA Columns for events that have no effect on any of the elements should be blank The first transaction has been recorded as an example Complete this question by entering your answers in the tabs below. AC Reg Use a horizontal statements model to show how each event affects the balance sheet income statement and statement of cash nows. Indicate whether the writer decres (D) each element of the financial statements. In the Statement of Cash Flows column, das the cash flow as operating activities (OA) mingi financing activities (). Columns for events that have no effect on any of the elements should be left blank. The first transaction has been recorded as an art DIARY COMPANY Sent Model for Year Stockholders Cash Payable 1 1 O 1 - 2 1 Rage