Crosby Corporation issued $750,000 of 12%, 10-year bonds payable on January 1, 2019. The market interest rate at the date of issuance was 10%, and the bonds pay interest semiannually (on June 30 and December 31). Crosby Corporation's year-end is June 30. Crosby prepared an effective-interest amortization table for the bonds through the first three interest payments as follows: (Click the icon to view the amortization schedule.) Read the requirements 1. How much cash did Crosby Corporation borrow on January 1, 2019? How much cash will Crosby Corporation pay back at maturity? Crosby borrowed $ on January 1, 2019. The company will pay back $ 750000 at maturity. 2. How much cash interest will Crosby Corporation pay each six months? Crosby will pay $ cash interest each six months. 3. How much interest expense will Crosby Corporation report on June 30, 2019, and on December 31, 2019? Does the amount of interest expense increase or decrease each period? Why? Crosby will report of interest expense for the six months ending June 30, 2019. Crosby will report $ L o f interest expense for the six months ending December 31, 2019. Does the amount of interest expense increase or decrease each period? Why? each period because the carrying value of the bonds decreases over time and interest expense is based on the carrying The amount of interest expense decreases value of the bonds