During 2019, Goho Truck Company constructed a truck and the expenditure were made as follow- $1,005,050 on 1 March $1,050,000 on 1 April $2,500,550 on 31 July $1,805,000 on 1 September $1,600,050 on 1 December The company had the following debt outstanding at December 31, 2019: 1. 10%, 5-year note to finance construction of various assets, dated January 1, 2019, with interest payable annually on January 1 $2,660,000 2. 12.5%, ten-year bonds issued at par on December 31, 2013, with interest payable annually on December 31 $4,000,000 3. 11%, 3-year note payable, dated January 1, 2018, with interest payable annually on January 1 $2,000,000 The construction was completed in December 2019. The useful life of the truck was six years. During December 2021, Goho Truck Company exchanged the truck plus cash for a car from another party. The car brings about different pattern of cash flow to Goho Truck Company compared with the truck. ssess (c) If interest income of an amount X was earned from the 10%, 5-year note during 2019, asse the accounting implication of this on the income statement and statement of financial position for 2020 and 2021