please answer all three questions per chegg guidelines

24. Klinger Corp. purchased land for $40,000 10 years ago. Klinger has received an offer from another company, who wants to purchase the land for $55,000. What is the impact on Klinger's Income Statement if they accept this offer?

a. Klinger will recognize a gain.

b. Klinger will recognize a loss.

c. Klinger will recognize gross profit.

d. There is no impact on Klinger's Income Statement.

25. Janzen Inc. borrowed $1,000 from Hayes Inc. on April 1. Janzen signed a note payable with 6% interest, which is due (in full, with interest) in 10 months, on February 1. Which of the following will be shown on Janzen's financial statements at December 31?

a. Interest revenue of $48.

b. Interest expense of $48.

c. Interest receivable of $40.

d. Interest payable of $40.

26. Tiger Partners signed a $5,000 note payable with Ezekiel Inc. on September 30. Tiger agreed to pay 4% interest and to pay the note (and interest) in full in 6 months. What adjusting journal entry does Tiger have to make at December 31?

a. dr. Interest Expense 200, cr. Interest Payable 200

b. dr. Interest Expense 100, cr. Interest Payable 100

c. dr. Interest Expense 50, cr. Interest Payable 50

d. Tiger does not have to make an adjusting entry, since no cash has been paid yet on the note.