Question 17 4 pts On January 1, Year 1, KASE borrowed $225,000 on a 3-year, 8% installment note payable. The terms of the note require KASE to pay 3 equal payments each December 31 for 3 years. The journal entry to record the December 31 Year 2 annual payment is: Debit Interest Expense 6,467: Debit Cash 80,840: Credit Notes Payable 87,308 Debit Interest Expense 12455; Debit Cash 74,852: Credit Notes Payable 87,308 Debit Interest Expense 6,467; Debit Notes Payable 80,840; Credit Cash 87,308 Debit Interest Expense 12,455; Debit Notes Payable 74,852; Credit Cash 87,308 Question 18 4 pts KASE collects taxes from every paycheck: Federal Income Tax at 15% State Income Tax at 10% If KASE accidentally collected 20% of Federal Income Tax on one month, what would happen to Salaries Payable? Salaries Payable would be unaffected Salaries Payable would be overstated Salaries Payable would be understated