Question: Question 19 (2.5 points) Use the following information for the FOUR questions. (3 of 4) On January 1, 2020, Carson Inc. borrows $20,000 cash from

Question 19 (2.5 points) Use the following information for the FOUR

Question 19 (2.5 points) Use the following information for the FOUR questions. (3 of 4) On January 1, 2020, Carson Inc. borrows $20,000 cash from the bank to finance a delivery truck. They sign a 10% installment note. The note requires three annual installments due each December 31, beginning on December 31, 2020. (Round all answers to the nearest dollar if necessary.) The 2020 income statement will report: Interest Expense of $1,000. Interest Payable of $1,000. Interest Payable of $2,000. Interest Expense of $2,000

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