Laura's Daunt Co. borrowed $300,000 on June 30, 2014, and signed a two-year note bearing interest at 10%. Interest is payable in full at on June 30, 2016. In conception with this note, signed a two-year note bearing merest at 10%. Interest is payable in full at maturity on Junk 30.2016. In connection with this note, Laura should report interest expense for calendar year 2014 in the amount of: $0 $30.000. $15,000. $60.000. A line of credit provides: A direct cable link between the bank and the borrower. The lender the capacity to borrow from a bank when funds are needed. A clever technique for a business to defer a line of debit. Cash for the borrower, with the borrowed amount determined by the bank. A contingent loss should be reported in a note to the financial statements rather than being accrued if: The likelihood of a loss is remote. The incurrence of a loss is probable. The incurrence of a loss is a sure thing. The likelihood of a loss is reasonably possible