Exercise 14-08 Presented below are two independent situations (a) Concord Co. sold $1,890,000 of 12%, 10-year bonds at 105 on January 1, 2020. The bonds were dated January 1, 2020, and pay interest on July 1 and January 1. If Concord uses the straight line method to amortize bond premium or discount, determine the amount of Interest expense to be reported on July 1, 2020, and December 31, 2020. (Round answer to decimal aces,..38, 548.) Interest expense to be recorded (b) Marigold Inc. issued $570,000 of 9%, 10 year bonds on June 30, 2020, for $471,929. This price provided a yield of 12% on the bonds, Interest is payable semiannually on December 31 and June 30. If Marigold uses the effective Interest method, determine the amount of interest expense to record i financial statements are issued on October 31, 2020, (Round Intermediate calculations to decimal places, e.o. 1.251247 and final answer to o decimal places, .0.38548.) Interest expense to be recorded CALCULATOR FULL SCREEN HET Exercise 16-06 Cullumber Company sells 9% bonds having a maturity value of $1,650,000 for $1.471,570. The bonds are dated January 1, 2020, and mature January 1, 2025. Interest is payable annually on January 1. Set up a schedule of interest expense and discount amortization under the straight-line method. (Round answers to decimal places... 38.500) Schedule of Discount Amortization Straight Line Method Cash Interest Discount Year Paid Carrying Expense Amortized Amount of Bonds Jan 1, 2020 Jan 1, 2021 Jan 1, 2022 Jan 1, 2023 Jan 1, 2024 Jan. 1. 2025 KTO TEXT