Berlin AG started business one year ago and reported the following account balances sheet on 31 December 2019 as followed.      Cash                            100,000  PPE                              500,000  Note payable              120,000  Equity                          480,000       Berlin sold €100,000, five-year, 9% bonds on January 1, 2020, for €103,992.71. Interest is payable each January 1. The Note Payable is due on June 30, 2020, with a 10% interest rate.  Show the financial statement impact and prepare the journal entry on December 31, 2020, if bond Discount is amortized using the straigh-line amortization (show your calculation). Prepare the liability and equity section of the Berlin AG on December 31, 2020, based on this information (Show your calculation).

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