9. Concord Corporation issues s25700000 face value of bonds at 97 on January 1, 2016. The bonds are dated January 1, 2016, pay interest semiannually at 8% on June 30 and December 31, and mature in 10 years. Straight-line amortization is used for discounts and premiums. On September 1, 2019 S15420000 of the bonds are called at 103 3 plus accrued interest. What loss would be recognized on the acrued called bonds on September 1, 2019? Answer: 1o. On January 1, 2018, Sunland Company sold property to Blossom Company. There was no established exchange price for the property, and Blossom gave Sunland a $4700000 zero-interest- bearing note payable in 5 equal annual installments of $940000, with the first payment due December 31, 2018. The prevailing rate of interest for a note of this type is 9%. The present value of the note at 900 was $3656318 at January 1, 2018, what should be the balance of the Discount on Notes Payable account on the books of Blossom at December 31, 2018 after adjusting entries are made, assuming that the effective-interest method is used? Answer:l