Discount-Mart issues $18 million in bonds on January 1, 2021. The bonds have a eight-year term and pay interest semiannually on June 30 and December 31 each year. Below is a partial bond amortization schedule for the bonds: Interest Expense Increase in Carrying Value Cash Paid Date 01/01/2021 06/30/2021 12/31/2021 06/30/2022 12/31/2022 $900,000 900,000 900,000 900,000 cBook $970,856 975, 108 979,614 984,391 Carrying Value $16,180,939 16,251,795 16,326, 903 16,406,517 16,490,908 $ 70,856 75,108 79,614 84,391 What is the interest expense on the bonds in 2021? Multiple Choice $975,108 $1,800,000 Oo oo $1,945,964 $970,856 On December 2, Coley Corp, acquired 1,400 shares of its $5 par value common stock for $24 each. On December 20, Coley Corp. resold 1,000 shares for $12 each. Which of the following is correct regarding the journal entry for the resold shares? Multiple Choice O Debit Cash $16,800 o Credit Treasury Stock $12,000 o O Credit Treasury Stock $24,000 o Credit Additional Paid-in Capital $7,000 3 The Titan retires a $24.5 million bond issue when the carrying value of the bonds is $21.9 million, but the market value of the bonds is $28.2 million. The entry to record the retirement will include: Multiple Choice ) A credit of $6.3 million to a gain account, A debit of $6.3 million to a loss account. oooo No gain or loss on retirement. ) A credit to cash for $21.9 million