In the following two independent cases, the company closes its books on December 31: 1. 2 Larkspur Inc sells $1.81 million of 8% bonds on March 1, 2020. The bonds pay interest on September 1 and March 1. The bonds'due date 1 September 1, 2023. The bonds yield 10%. Pearl Ltd. sells $6.10 million of 9% bonds on June 1, 2020. The bonds pay interest on December 1 and June 1. The bonds due date is June 1, 2024. The bonds yield 8%. On October 1, 2021, Pearl buys back $1.22 million worth of bonds for $2.20 million, including accrued interest. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. Part 1 For situation 1. use the effective interest method for discount and premium amortization and prepare any necessary amortization tables. (Hint: Refer to Chapter 3 for tips on calculating) (Round answers to decimal places, s. 5,275) Schedule of Bond Discount Amortization Effective Interest Method Discount Interest Expense Amortized Carry Date Cash Paid 3/1/20 $