Help Seve & Exit sam Bill Darby started Darby Company on January 1,2018. The company experienced the following events during its fest year of operation 1 Earned $16,200 of cash revenue 2. Borrowed $12,000 cash from the bank 3. Adjusted the accounting records to recognize accrued interest expense on the bank note The note, ssued on September 1, 2018 had a one-year term and an 8 percent annual interest rate P Required What is the amount of interest expense to record for 2018 b. What amount of cash was paid for interest in 2018 eerences Use a horizontal statements model to show how each event anects the balance sheet ncome statement and statement of cash flows Indicate whether the event increases m decreases (o) or does not aftect (NA) each element of the financal satements In the Cash Flows column, designate the cash flows as operating achtes ONI mesing acthmesAL or financing action The first transaction has been recorded as an example Complete this question by entering your answers in the tabs below Req A and B Rea C Use a horizontal statements model to show how each event affects the balance sheet, income statement decreases (D), ar does not affect (NA) activities (IA), or financing activities (FA). The first and statement of cash flows. Indicate whether the each element of the financial statements. In the Cash Flows column, designate the cash flows as oper ating activities poires transaction has been recorded as an example. Horirontal Statements Model for 2018 Balance Sheet References Stockholders Equity vent Assets No. Liabilities Cash Flows CashNotes Req A and B Prev 1 of 4 Next