On September 30, Year 1 , Eel Electric, Inc., borrowed $20,000 at 12% with interest and principal due in four months. Show the effect of this note on Eel Electric's financial statements as of and for the year ended December 31 , Year 1. Income Statement A. Interest Payable $600 and Notes Payable $20,000 Statement of Cash Flows B. Interest Expense $600 Balance Sheet C. Interest Payable $(600) and Notes Payable $(20,000) D. Issuance of Notes Payable $(20,000) E. Interest Payable $1,800 F. Interest Expense $1,800 and Notes Payable $20,000 G. Interest Payable $(1,800) and Notes Payable $(20,000) H. Issuance of Notes Payable $20,000 I. Interest Expense $1,800 In Year 1, Stock to the Hand, Inc., issued 100,000 shares of the 1,000,000 shares of $0.50 par value common stock it is allowed to sell. The total received from issuing its common stock is $500,000. Stock to the Hand bought back 2,000 shares of its stock at a cost of $7 each. Show the effect of the purchase of treasury stock on the accounting equation: If no effect, be sure to select "No Effect". Assets A. 0 No Effect Liabilities B. (1,000) Common Stock, (13,000) Additional Paid-in Capital Shareholders' Equity C. 2,000 Common Stock; (12,000) Treasury Stock D. 14,000 Common Stock; (14,000) Treasury Stock E. (14,000) Cash F. 14,000 Cash G. (10,000) Treasury Stock H. (14,000) Treasury Stock