Required information Exercise 7-6 (Algo) Notes payable-discount besis LO 2 The blowing information apples to the questions dspayed below) On August 1, 2010 Colombo Ces treasurer signed a note promising to pay $120,000 on December 31, 2019 The proceeds of the note were $4.000 Exercise 7-6 (Algo) Pert c-Horizontal model e. Use me horizontal model to show the effects of signing the note and the receipt of the cash proceeds on August 1 201 indica the financial statement effect (Enter decreases with a minus sign to indicate a negative financial statement effect e-2. Use the norizontal made to show the effects of recording interest expense for the month of September indicate the cal Check my work 2. Use the horizontal model to show the effects of recording interest expense for the month of September indicate the financial statement effect (Use rounded discount rate calculated in parts. Enter decreases with a minus sign to Indicate a negative financial statement effect) Het c-3. Use the horizontal model to show the effects of repaying the note on December 31, 2019 Indicate the financial statement effect (Enter decreases with a minus sign to indicate a negative financial statement effect.) A Balance Sheet Liabilites Stockholders' Equity Mat mome Income Statement