34) Discount-Mart issues S10 million in bonds on January 1, 2021. The bonds have a ten-year term and pay interest semiannually on June 30 and December 31 each year Below is a partial bond amortization schedule for the bonds: Increase in Carrying Interest Value Date Cash Paid Expense Carrying Value S 8,640,967 01/01/2021 06/30/2021S 300,000S 345,639 347,464 S 45,639 47,464 8,686,606 8,734,070 8,783,433 8,834,770 12/31/2021 300,000 49,363 51,337 06/30/2022 300,000 300,000 349,363 351,337 12/31/202:2 What is the interest expense on the bonds in 2021? A) S600,000. C) S345,639 B) S347,464 D) S693,103. Learning Objective: 09-05 Record the issuance of bonds and related interest