On January 1 Year 1. Weiler Company issued bonds with a $405,000 face value, o stated rate of interest of 10%, and a 10-year term to maturity. Weller uses the effective interest method to amortize bond discounts and premiums. The market rate of interest on the date of issuance was 8%. Interest is paid annually on December 31 Assuming Weller Issued the bond for $446.940, what is the amount of Interest expense that will be recognized during Year 3? (Round your intermediate calculations and final answer to the nearest whole dollar amount.) Multiple Choice $3406 $20.250 5356 $16.004 Chico Company borrowed $40,000 on a four-year, 8% installment note. How will Chico record the issuance of this note? Multiple Choice Credit Account Title Cash Discount on notes payable Notes payable Debit 36,800 3,200 40,000 5 Debit 40,000 Credit Account Title Cash Interest payable Notes payable 3,200 36,800 Credit Account Title Cash Notes payable Debit 43,200 43,200 Credit Account Title Cash Notes payable Debit 40,000 40,000 On January 1, Year 1. Mahoney Company borrowed $324.000 cash from Sun Bank by issuing a 5 year, 8% term note. The principal and interest are repaid by making annual paynents beginning on December 31, Yeart The annual payment on the loan equals $81150, Which of the following shows the effects on the elements of the financial statements of the cash payment on December 31 Year 12 Balance Sheet Income Statement Stockholders Statement of Cash = Liabilities + Equity Net Incone Flows -FA/-OA -FA --FA/-OA -OA Assets 31 NA Revenue - Expenses NA NA NA NA NA NA NA Multiple Choice . Ootion Onition Options Option