Gilmartin Corporation issued $300,000 of 14%, 10-year bonds payable on January 1, 2022. The market interest rate at the date of issuance was 12%, and the bonds pay interest semiannually (on June 30 and December 31). Gilmartin Corporation's year-end is June 30. Gilmartin 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 Gilmartin Corporation borrow on January 1, 2022? How much cash will Gilmartin Corporation pay back at maturity? On January 1, 2022, Gilmartin borrowed At maturity Gilmartin will pay back - Reference Interest Payment Interest Expense Premium Amortization Premium Account Balance Bond Carrying Amount 34,410 334,410 Semiannual Interest Date Jan 1, 2022 Jun 30, 2022 Dec 31, 2022 Jun 30, 2023 935 33,475 333,475 21,000 21,000 21,000 20,065 20,009 991 32,484 332,484 19,949 1,051 31,433 331,433 Print Done