Help Save & Exit Submi On Jruary 1 of Year t Congo Express Airways issued S2,500,000 of 5% bonds that pay interest semiannually on January 1 and July 1. The bond issue price is 12260000 and market rate of interest for similar bonds is 6% The bond premium or discount is being amortized at a rate of $8,000 every six months. After accruing interest at year end, the company's December 31, Year 1 balance sheet should reflect total liabilities associated with the bond issue in the amount of 4 $2 213.500 $2724,000 O $2.276.000 O $2.700 500