Case 7.34 in Accounting: What the numbers mean (11th edition) Need help with A through E

case what Joul llL!U llU of financial statement disclosures.) A revi of ac- i Note: This is an analytical assi n iew you've learned 7.34 other accrued liabilities i, 5, 7, 8 volving the interpretation Co. revealed the following information concerning the counting records at Corless company's liabilities that were outstanding at December 31, 2017 respectively: Year-End Year-End Interest Interest 2016 Rate 2017 Rate Short-term debt $380 Working capital loans 7% Current maturities of long-term debt 160 1600 Long-term debt: Debenture bonds due in 2034 800 9% 800 Serial bonds due in equal annual installments 480 6% Required: a. Corless Co. has not yet made an adjustment to accrue the interest expense relat ed to its working capital loans for the year ended December 2017. that the amount of interest to be accrued can be accurately estimated using an the horizontal interest rate applied to the average liability balance. Use model (or write the journal entry) to record the effect of the 2017 interest accrual for working capital loans. b. Note that the dollar amount and interest rate of the current maturities of long-term debt have not changed from 2016 to 2017. Does this mean that the $160,000 amount owed at the end of 2016 still has not been paid as of December 31, 2017? (Hint: Explain your answer with reference to other infor mation provided in the problem.)