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 percent.Which of the following answers shows the effect of the 2012 interest payment on the financial statements? 
Definitions:
Workers' Compensation Acts
Laws that provide financial compensation and medical care for workers who are injured or disabled in the course of their employment.
Common Law
A system of law that is based on court judgments and precedents rather than statutory laws.
Injured Employee
Refers to a worker who has suffered a physical or mental harm or injury in the course of employment.
Civil Rights Act
Landmark legislation in the United States passed in 1964 that outlawed discrimination based on race, color, religion, sex, or national origin.
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