MoNeil Corporason issued $450,000 of 12%, 10 -year bonds payable on January 1,2022 . The market interest rate at the date of issuance was 10\%, and the bonds pay interest semiannually (on June 30 and December 31). MoNeil Corporation's year-end is June 30 . McNkil prepared an effective-interest amortization table for the bonds through the first three interest payments as follows: '(Cick the ioon to view the amortization schedule.) Read the reguirements 2. 1. How much cash did McNeil Corporation borrow on January 1, 2022 ? How much cash will McNeil Corporation pay back at maturity? On January 1, 2022, McNeil borrowed At maturity McNeil will pay back 2. How much cash interest will McNeil Carporation pay each six months? Every six months McNeil will pay cash interest of 3. How much interest expense will McNeil Corporation report on June 30, 2022, and on December 31, 2022? Does the amount of interest expense increase or decrease each period? Why? For the slx months ending June 30, 2022, McNeil will report interest expense of For the slx months ending December 31, 2022, McNeil will report interest expense of Does the amount of interest expense increase or decrease each period? Why? The amount of interest expense (1) each period because the carrying value of the bonds (2) and interest expense is based on the (3) value of the bonds. 1: Reference 2. Requirements Use the amortization table for MoNei Corporation's bonds to answer the following questions: 1. How much cash did McNeil Corporation borrow on January 1, 2022? How much cash will McNeil Corporation pay back at maturity? 2. How much cash interest will MoNvel Corporation pay esch six months? 3. How much interest expense will McNeil Corporation report an June 30, 2022, and on December 31, 2022? Does the amount of interest expense increase or decrease each period? Why? MoNeil Corporason issued $450,000 of 12%, 10 -year bonds payable on January 1,2022 . The market interest rate at the date of issuance was 10\%, and the bonds pay interest semiannually (on June 30 and December 31). MoNeil Corporation's year-end is June 30 . McNkil prepared an effective-interest amortization table for the bonds through the first three interest payments as follows: '(Cick the ioon to view the amortization schedule.) Read the reguirements 2. 1. How much cash did McNeil Corporation borrow on January 1, 2022 ? How much cash will McNeil Corporation pay back at maturity? On January 1, 2022, McNeil borrowed At maturity McNeil will pay back 2. How much cash interest will McNeil Carporation pay each six months? Every six months McNeil will pay cash interest of 3. How much interest expense will McNeil Corporation report on June 30, 2022, and on December 31, 2022? Does the amount of interest expense increase or decrease each period? Why? For the slx months ending June 30, 2022, McNeil will report interest expense of For the slx months ending December 31, 2022, McNeil will report interest expense of Does the amount of interest expense increase or decrease each period? Why? The amount of interest expense (1) each period because the carrying value of the bonds (2) and interest expense is based on the (3) value of the bonds. 1: Reference 2. Requirements Use the amortization table for MoNei Corporation's bonds to answer the following questions: 1. How much cash did McNeil Corporation borrow on January 1, 2022? How much cash will McNeil Corporation pay back at maturity? 2. How much cash interest will MoNvel Corporation pay esch six months? 3. How much interest expense will McNeil Corporation report an June 30, 2022, and on December 31, 2022? Does the amount of interest expense increase or decrease each period? Why