Helen Parish started a design company on January 1, Year 1. On April 1, Yeart, Parish borrowed cash from a local bank by Issuing a one year $48.400 face value note with annual Interest based on an 11 percent discount. During Year 1 Parish provided services for $37.400 cash Required Answer the following questions. (Hint Record the events in T-accounts prior to answering the questions) a. What is the amount of total liabilities on the December 31, Year 1. balance sheet? b. What is the amount of net income on the Year 1 income statement? c. What is the amount of cash flow from operating activities on the Year 1 statement of cash flows? d. Provide the general journal entries necessary to record issuing the note on April 1, Year recognizing accrued interest on December 31, Year 1 and repaying the loan on March 31, Year 2 Complete this question by entering your answers in the tabs below. T Accounts Required A Required B Required Required Answer the following questions. Record the events in accounts prior to answering the questions. (Select 1, 2, or for the transactions in the order they take place. Round your answers to nearest dollar amount.) Cash Notes Payable Beginning balance Beginning balance Ending balance Ending balance Service Revenue Discount on Notes Payable Beginning balance Beginning balance Indahan hala Helen Parish started a design company on January 1, Year 1. On April 1, Year 1, Parish borrowed cash from a local bank by Issuing a one-year $18.400 face value note with annual interest based on an 11 percent discount. During Year 1, Parish provided services for $37,400 cash Required Answer the following questions. (Hint Record the events in T-accounts prior to answering the questions.) a. What is the amount of total liabilities on the December 31, Year 1, balance sheet? b. What is the amount of net income on the Year 1 income statement? c. What is the amount of cash flow from operating activities on the Year 1 statement of cash flows? d. Provide the general journal entries necessary to record issuing the note on April 1, Year 1: recognizing accrued interest on December 31, Year 1 and repaying the loan on March 31, Year 2. 43 Complete this question by entering your answers in the tabs below. T Accounts Required A Required B Required C Required D What is the amount of total liabilities on the December 31, Year 1, balance sheet? (Round your answer to nearest dollar amount.) Total liabidities Helen Parish started a design company on January 1, Year 1. On April 1. Year 1 Parish borrowed cash from a local bank by Issuing a one-year $48,400 face value note with annual interest based on an 11 percent discount. During Year 1 Parish provided services for $37.400 cash Required Answer the following questions. (Hint: Record the events in T-accounts prior to answering the questions.) a. What is the amount of total liabilities on the December 31, Year 1. balance sheet? b. What is the amount of net income on the Year 1 income statement? c. What is the amount of cash flow from operating activities on the Year 1 statement of cash flows? d. Provide the general Journal entries necessary to record issuing the note on April 1 Year 1: recognizing accrued interest on December 31. Year 1 and repaying the loan on March 31, Year 2 Complete this question by entering your answers in the tabs below. T Accounts Required A Required B Required Required D What is the amount of net income on the Year 1 income statement? (Round your intermediate calculations and final answer to nearest dollar amount.) Not income