Kaat issued $140,000 in bonds on September 1, 20X1 for face value plus accrued interest. The annual contract rate is 8%. Interest is paid every June 30 and December 31. The bonds were dated July 1. 20X1. How much cash did the company collect on September 1, 20X1? $138,133 $140,000 $140,933 $141,867 $142,800 Knick Corp. issued five-year term bonds on January 1, 20X8 with a face value of $100,000. The contract rate is 8% payable semiannually on June 30 and December 31. The bonds were issued for $96,000 to yield an effective rate of 9%. The effective-interest method of amortization is used. What amount of bond interest expense should be reported on the income statement for the year ending December 31, 20X8? $8,315 $8,654 $8,697 $9,000 $9,685 Rosalia Corp. issues $1,000,000 12 % 10-year bonds at 104 on October 1, 20X7. Interest payment dates are April 1 and October 1. The company keeps its accounts on a calendar year basis and uses straight-line amortization. What is the carrying value of the debt on December 31, 20X8? $1,031,000 $1,032,000 $1,035,000 O $1,039,000 $1,045,000 On July 1, 19X5, Justin Corporation issues $4,000,000 of 10-year bonds dated July 1, 20X5, at 99.5 when the market rate of interest was 8%. Justin uses the effective- interest method of amortization. Interest is paid each June 30 and December 31. The entry to record the first semiannual interest payment on December 31, 20X5, will include a credit to interest payable for $160,000 credit to premium on bonds payable for $20,000 credit to cash for $160,000 credit to cash for an amount greater than $159,200 debit to interest expense for $159,200 A bond issue with a maturity value of $100,000 and a discount of $4,200 is paid off and retired at 98. What is the gain or loss on this transaction? $4,200 loss $2,200 loss $2,000 loss $2,200 gain $4,200 gain