Required: te indicated letters, identify the net effects of the following transactions or conditions on the various financial statement components I -Increase D Decrease NE No effect Assets Liabilities Equ Transaction Note payable issued for cash Note payable issued for property Note payable issued for expenses (to pay salaries, rent, etc Bond issue costs - at issuance of the bond Bond issue costs-amortization Bond issued at a discount Payment of interest - not previously accrued (the bond was issued at par on January 1 and pays interest annually on December 31) Required.Answer the following questions. 1. Why would a note payable be issued at a discount? 2. How are the costs of issuing a bond accounted for? 3. Provide one reason why a borrower might wish to retire debt obligations before their maturity dates. 4. What is off-balance-sheet financing? Why might a company be interested in this type of financing