On September 1, Year 1.Western Company borrowed

$36,000

cash. The one-year note carried a

5%

rate of interest. The amount of interest expense on the income statement and the amount of cash flow from operating activities shown on Western's December 31, Year 1 financial statements would be\ Multiple Choice

On September 1, Year 1.Western Company borrowed $36,000 cash. The one-year note carried a 5% rate of interest. The amount of interest expense on the income statement and the amount of cash flow from operating activities shown on Western's December 31, Year 1 financial statements would be Multiple Choice