Chapter 7 Homework 3 Required information. Required Information [The following information applies to the questions displayed below.) On August 1, 2022, Colombo Company's treasurer signed a note promising to pay $121,500 on December 31, 2032. The proceeds of the note were $115,200. 6.1 Use the horizontal model to show the effects of signing the note and the receipt of the cash proceeds on August 1, 2022. Indicate the financial statement effect. 2. Use the horizontal model to show the effects of recording interest expense for the month of September. Indicate the financial statement effect 3. Use the horizontal model to show the effects of repaying the note on December 31, 2022. Indicate the financial statement effect. Complete this question by entering your answers in the tabs below. Required C1 Required C2 Required C3 Assets Use the horizontal model to show the effects of signing the note and the receipt of the cash proceeds on August 1, 2022. Indicate the financial statement effect. Note: Enter decreases with a minus sign to indicate a negative financial statement effect. ved UN Balance Sheet Liabilities + + Stockholders' Equity Net Income check ny Income Statem Revenues

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