1. A company issued 5-year, 8% bonds with a par value of $94,000. The company received $91,947 for the bonds. Using the straight-line method, the amount of interest expense for the first semiannual interest period is:

2. A company issues at par 8% bonds with a par value of $300,000 on April 1. The bonds pay interest semi-annually on January 1 and July 1. The cash received on July 1 by the bond holder(s) is: