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$1$

Abardeen Corporation borrowed $$98,000$ from the bank on October $1,$ Year $1.$ The note had an $8$ percent annual rate of interest and matured on March $31,$ Year $2.$ Interest and principal were paid in cash 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 liabilities was reported on the December $31,$ Year $1,$ balance sheet? $($Do not round intermediate calculations. Round your answer to the nearest dollar 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 calculations. Round your answer to the nearest dollar amount.$)$

$\backslash$table$[[$a$.,$Amount of cash paid$],[$b$.,$Interest expense$],[$c$.,$Total liabilities$],[$d$.,$Amount of cash paid$],[$e$.,$Interest expense$]]$