19) An example of an item which is not a liability is A) accrued estimated warranty costs. B) advances from customers on contracts. C) dividends payable in stock. D) the portion of long-term debt due within one year. 20) At the beginning of 2020, Wallace Corporation issued 10% bonds with a face value of $6,000,000. These bonds mature in the five years, and interest is paid semiannually on June 30 and December 31. The bonds were sold for $5,558,400 to yield 12%. Wallace uses a calendar-year reporting period. Using the effective-interest method of amortization, what amount of interest expense should be reported for 2020? (Round your answer to the nearest dollar.) A) $665,000 B) $669,018 C) $667,000 D) $688,320 21) A mortgage bond is referred to as a debenture bond. 22) Both IFRS and U.S. GAAP permit valuation of long-term debt and other liabilities at A) historic costs without reflecting changes in valuation as obligations will be retired at their maturity date. malat value of the ohlications, based on changes in the discount rate