The following events apply to Koosman Co. for fiscal 2012 and 2013: Borrowed $72,000 from the local bank on April 1, 2012, when the company was started. The note had an 8% annual interest rate and a one-year term to maturity. Recognized $188,000 of revenue on account in 2012. Recognized $252,000 of revenue on account in 2013. Collected $164,000 cash from accounts receivable in 2012. Collected $246,000 cash from accounts receivable in 2013. Paid $116,000 of salaries expense in 2012. Paid $138,000 of salaries expense in 2013. Paid the loan and interest at the maturity date.

Record the above transactions of Koosman Co. in a horizontal statements model.

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