Bronco High School issues $10 million in bonds on January 1, 2021, that pay interest semi-annually on June 30 and December 31. A portion of the bond amortization schedule appears below: Date 01/01/2021 06/30/2021 $400,000 Cash Paid Interest Expense Increase in Carrying Value Carrying Value $8,800,000 12/31/2021 $440,000 400,000 442,000 $40,000 8,840,000 42,000 8,882,000