on january 1 2010 hays corporation arranged a 3 000 line of credit with the barn 384968

On January 1, 2010, Hays Corporation arranged a $3,000 line of credit with the Barnett Bank. It agreed to accept the bank’s offer of 1% above the prime rate with interest payments on December 31 of each year. All borrowings and payments on principal are to take place on January 1 of each year. Hays began its loan transactions with Barnett Bank by borrowing $1,000 on January 1, 2010. On January 1, 2011, Hays borrowed an additional $1,000 from Barnett Bank, bringing the total amount borrowed to $2,000. On January 1, 2012, Hays paid $500 on the principal of the loan. On December 31, 2012, Hays records the 2012 interest payment. The prime rate for 2012 was 5%. Which of the following answers shows the effect of the 2012 interest payment on the financial statements? Assets, 75 or 90? Liabilities NA, (75) or (90), Equity NA 90 or 70 Revenue NA, Expenses NA, 75 or 90?, Net Income NA, 75 or 90, and Cash 75 FA, 75 OA, 90 FA, 90 OA?