ime Left:0:46:46 Yang Li: Attempt 1 Question 21 (2 points) On September 1, 2019, Terry Ltd. borrowed $48,000 from a local bank at an annual interest rate of 8 percent, and signed a note, payable on October 1, 2020. Interest on this note is also payable at that date. Which of the following amounts should be reported as interest expense related to this note on Terry Ltd.'s Income Statement for the year ended December 31, 2019? 1) $1,280.00 2) $960.00 3) $0.00 4) $3,840.00 Question 22 (1 point) A law firm received $4,000 cash for legal services to be rendered in the future. The full amount was credited to linearned in