Part 4: Interest Calculations Candle Company borrowed $56,800 on September 30, 2021. The loan had a 4% interest rate and is due on September 30, 2022. Round your answers below to the nearest dollar. 1. Show how Candle Company will record the transaction when the money is borrowed on September 30, 2021. Notes Interest Cash = Pay. + Pay. + Common Stock Retained Earnings Revenue Expenses Net Income Cash Flow 2. Calculate the interest incurred by Candle Company during 2021. 3. Show how the interest will be recorded in Candle Company's accounting records on December 31, 2021. Notes Interest Common Cash = Pay. + Pay. + Stock Retained Earnings Net Revenue Expenses Income Cash Flow 4. Summarize how the interest will impact Candle Company's income statement for the year ended December 31, 2021. 5. Summarize how the interest will impact Candle Company's December 31, 2021 balance sheet. 6. How is the annual 2021 statement of cash flows impacted by the money borrowed and interest incurred in 2021?