Use the following to answer questions 6-10 On October 1st, FLY Tech, an Airline maintenance company, borrows $2,500,000 cash from Bank of America to expand operations. FLY signs a one year, 3% promissory note. FLY's year-end is December 31. 6. How was the loan classified on the company's December 31, year 1 balance sheet? A. Current liability B. Long term liability C. Note disclosure only D. Stockholders' Equity 7. How was the loan classified on the company's December 31, year 1 statement of cash flow? A. Operating activity B. Investing activity C. Financing activity D. Not shown on the statement of cash flows 8. $ How much interest should be accrued on December 31 of the first year (assume no previous entry was recorded for interest on the loan)? 9. $ America? When the note is paid at maturity (September 30, year 2) how much cash is paid to Bank of 10. $ decrease? When the note is paid at maturity in the second accounting year, how much does net income