Exercise 14-8 Your answer is incorrect. Try again. Presented below are three independent situations. (a) Bonita Co. sold $1,930,000 of 12%, 10-year bonds at 106 on January 1, 2017. The bonds were dated January 1, 2017, and pay interest on July 1 and January 1. If Bonita uses the straight-line method to amortize bond premium or discount, determine the amount of interest expense to be reported on July 1, 2017, and December 31, 2017. (Round answer to O decimal places, e.g. 38,548.) Interest expense to be recorded 5790 (b) Windsor Inc. issued $610,000 of 9%, 10-year bonds on June 30, 2017, for $505,047. This price provided a yield of 12% on the bonds. Interest is payable semiannually on December 31 and June 30. If Windsor uses the effective-interest method, determine the amount of interest expense to record if financial statements are issued on October 31, 2017. (Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final answer to 0 decimal places, e.g. 38,548.) Interest expense to be recorded