On December 1,2022 , Hocking Incorporated obtained a four-month working capital loan from its bank. The face amount of the note signed by the treasurer was $104,000. The interest rate charged by the bank was 6%. The bank made the loan on a discount basis. Required: a. Calculate the loan proceeds made available to Hocking on December 1, 2022. b. Calculate the amount of interest expense applicable to this loan during the fiscal year ended December 31,2022. c. What is the amount of the current liability related to this loan to be shown in the December 31,2022 , balance sheet? On December 1,2022 , an advance rent payment of $11,400, representing a three-month prepayment for the months of December, January, and February, was received in cash from the company's tenant. Required: Use the horizontal model to record the effects of the following items and complete the below table. Indicate the financial statement effect. a. The three months of rent collected in advance on December 1, 2022. b. The adjustment that will be made at the end of each month to show the amount of rent "earned" during the month. Note: Enter decreases with a minus sign to indicate a negative financial statement effect. Complete this question by entering your answers in the tabs below. Use the horizontal model to record the effects of the three months of rent collected in advance on December 1, 2022. Note: Enter decreases with a minus sign to indicate a negative financial statement effect. On December 1, 2022, an advance rent payment of $11,400, representing a three-month prepayment for the months of December, January, and February, was received in cash from the company's tenant. Required: Use the horizontal model to record the effects of the following items and complete the below table. Indicate the financial statement effect. a. The three months of rent collected in advance on December 1, 2022. b. The adjustment that will be made at the end of each month to show the amount of rent "earned" during the month. Note: Enter decreases with a minus sign to indicate a negative financial statement effect. Complete this question by entering your answers in the tabs below. For the payroll period ended on May 28,2022 , gross pay was $22,700, net pay was $12,600, FICA tax withholdings were $4,100, income tax withholdings were $4,800, and medical insurance contributions were $1,200. Required: Use the horizontal model to show the effects of the payroll accrual on May 28,2022. Note: Enter decreases with a minus sign to indicate a negative financial statement effect