What amount of cash was paid for interest in 2018?

KBack This window shows your responses and what was marked correct and incorrect from your previous attempt Bill Darby started Darby Company on January 1, 2018. The company experienced the following events during its first year of operation 1. Earned $16,200 of cash revenue 2. Borrowed $12,000 cash from the bank 3. Adjusted the accounting records to recognize accrued interest expense on the bank note. The note, issued on September 1, 2018 9.5/10 points awarded had a one-year term and an 8 percent annual Interest rate Scored Required a. what is the amount of interest expense in 2018? b. What amount of cash was paid for interest in 2018? c. Use a horizontal statements model to show how each event affects the balance sheet, income statement, and statement of cash flows. Indicate whether the event increases (), decreases (D), or does not affect (NA) each element of the financial statements. In the Cash Flows column, designate the cash fiows as operating activities (OA), Investing activities (IA), or financing activities (FA). The first transaction has been recorded as an example Complete this question by entering your answers in the tabs below. Req A and 6 Req C What is the amount of interest expense and the cash paid for interest in 2018 (Do not round intermediate calculations.) a. Interest expense b. Amount of cash 320 320 Req A and B Req C>