Please show work how u did it?

1. Which of the following is one of the main characteristics of the liabilities? a. they occur because of a past transaction or event

b. they create a present obligation for future payments of cash or services

c. they are an unavoidable obligation

d. All of the above.

2. On December 1, 2025, Grand Company accepted a 6-month, 15% note for $16,800 in settlement of an overdue account receivable. Interest revenue was accrued through December 31, 2025. Grand receives the maturity value of the note at maturity. The journal entry to record the collection would be: A) Cash is debited for $18,060; Notes Receivable is credited for 16,800, Interest receivable is credited for $210 and Interest Revenue is credited for $1,050. B) Cash is debited for $18,060; Notes Receivable is credited for 16,800, and Interest Revenue is credited for $1,260.

C) Cash is debited for $18,060; Notes Receivable is credited for 16,800, Interest receivable is credited for $1,050 and Interest Revenue is credited for $210. D) Cash is debited for $16,800; Interest Revenue is debited for $1,260, and Notes Receivable is credited for 18,060.