Required information [The following information applies to the questions displayed below.] On April 15, 2019, Powell Inc. obtained a six-month working capital loan from its bank. The face amount of the note signed by the treasurer was $139,700. The interest rate charged by the bank was 9.75%. The bank made the loan on a discount basis. Required: e-1. Calculate the loan proceeds made available to Powell. Loan proceeds On April 15, 2019, Powell Inc obtained a six-month working capital loan from es bank. The face amount of the note signed by the treasurer was $139,700. The interest rate charged by the bank was 9.75%. The bark made the loan on a discount basis -2. Use the horizontal model to show the effect of signing the note and the receipt of the cash proceeds on Apre 15, 2010 Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect) Assets Balance Sheet H by the treasurer was $139,700. The interest fate charged by uit balik was made the tank basis. b. Calculate the amount of interest expense applicable to this loan during the fiscal year ended June 30, 2019. Interst expense c. What is the amount of the current liability related to this loan to be shown in the June 30, 2019, balance sheet? Current liability