Question: answer 6-10 please Use the following to answer questions 6 - 10 On October 1 FLY Tech, an Airline maintenance company, borrows $1,000,000 cash from

answer 6-10 please

Use the following to answer questions 6 - 10 On October 1" FLY Tech, an Airline maintenance company, borrows $1,000,000 cash from the Bank to expand operations. FLY signs a 1 year, 3.45% promissory note. Interest is payable at maturity. FLY's year-end is December 31. 6. How is 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 is 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. $. _When the note is paid at maturity how much cash is paid to the Bank? 10. $ When the note is paid at maturity how much does net income decrease

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