P 2-12 Cash versus accrual eccounting 02-8 Zambrano Whoesale Corporation maintains its records on a cash basis. At the end of each yeor the company's accountant obtains the necessary information to prepare acerual basss financial statements. The following cash flows occurred during Pape 104 the year ended December 31, 2018: Additional nformation On March31, 2017, Zambrano lent acustomerS50 000. Interest at 8% is pavable annuatty on each Marel, 31 Prme,pa is due in 2021 2. The annual insurance payment is paird in advance on Apra 30. The policy period begins on May 1 3. On October 31 2018. Zam rano borrowed SI0000 from a local bank. Principal and interest at 6% are due on October 31, 2019. Annsal rent on the company's facilities ts paid in advance on Jane 30 The rental period bregins on Jely t Requirect: 1. Prepane an accrual basis income szatement tor 2018 tignone imcome taxes) 2 Determine the following balance sheet amounts on December 31 2013 a. Prepaid insurance b. Prepaid rent c. Interest recesable d. Interest payable