On January 1, 2023, Entity J issued $2,000,000 of 4% bonds with a five-year term. Interest is payable annually on January 1. The market interest rate was 6%. The issue price was $1,831,509. Entity) uses the effective interest method for amortization of bond discount or premium. What is the interest expense for the first year? Round to the nearest dollar if necessary O $80,000 120,000 $29,891 O $109,891 QUESTION 13 Entity reported net income of $150,000 for the current year any uses the indirect method to report operating activities cash flow Accounts Payable decreased by $9,000 during the year. Choose the appropriate category on the statement of cash flows to report the decrease in Accounts Payable O Cash Flows From Operating Activities-Add to Not Income O Cash Flows From Operating Activities-Deduct from Net Income O Cash Flows From Investing Activities Cash Flows From Financing Activities Non-cash