8 The Merlo Company issues $5,000,000, 7.8%, 20-year bonds to yield 8% on 1/1/16 Interest is paid on June 30 and December 31. The bonds sold for $4,901,036. Using straight-line, what is 2019 interest expense? $385,052 $390,000 $392,298 $394,948 b 8 Recorded the write-off of an Total assets account receivable as an amortization of bond discount on bonds payable A, overstated B, no effect C, understated