On January 1, Year 1, Niagara Corporation arranges a $6,000 line of credit with Centennial Bank. It accepted the bank's offer of 1% above the prime rate with interest payments on December 31 of each year. All borrowings and repayments are to take place on January 1 of each year.Niagara begins its loan transactions with Centennial Bank by borrowing $2,000 on January 1, Year 1. Which of the following shows the effect of this event on the financial statements? 
Definitions:
Axon
A thin, extended part of a neuron, also known as a nerve cell, that often transmits electrical impulses away from the cell's central body.
Glia Cells
Non-neuronal cells in the central nervous system that support, protect, and nourish neurons, playing a crucial role in maintaining homeostasis and forming myelin.
Insulating
The act of preventing the transfer of heat, electricity, or sound from one material to another.
Removing Waste
Removing waste involves the processes and activities required to manage waste from its inception to its final disposal, including collection, transport, treatment, and disposal.
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