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a. Charles Wilson Co. sold $2,120,000 of 12%,10-year bonds at 102 on January 1,2025 . The bonds were dated January 1,2025 , and pay interest
a. Charles Wilson Co. sold $2,120,000 of 12%,10-year bonds at 102 on January 1,2025 . The bonds were dated January 1,2025 , and pay interest on July 1 and January 1 . If Wilson uses the straight-line method to amortize bond premium or discount, determine the amount of interest expense to be reported on July 1, 2025, and December 31, 2025. (Round answer to 0 decimal places, e.g. 38,548.) Interest expense to be recorded $ b. Joseph Moore Inc. issued $660,000 of 8%,10-year bonds on June 30,2025 , for $508,594. This price provided a yield of 12% on the bonds. Interest is payable semiannually on December 31 and June 30. If Moore uses the effective-interest method, determine the amount of interest expense to record if financial statements are issued on October 31, 2025. (Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final answer to 0 decimal places, e.g. 38,548.) Interest expense to be recorded $
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