Cramer Company sold five-year, 6 % bonds on October 1, 2018. The face amount of the bonds was issue price was $138,000. Interest is payable on April 1 of each year. The fiscal year of Cramer Company ends on December 31. How much interest expense will Cramer Company report in its December 31, 2018, income statement (assume straight-line amortization)? (Do not round intermediate calculations.) $130,000, while the Multiple Choice $1,550 $1,950. $2,070 $1,150