On November 1, 2018, Arch Services issued $333,000 of eight-year bonds with a stated rate of 13% at par Interest payments occur each April 30 and October 31 On December 31, 2018, Arch made an adjusting entry to accrue interest at year-end. What is the amount of Interest Expense that will be recorded on December 31, 2018? (Do not round any intermediate calculations, and round your final answer to the nearest dollar.) OA. $7,215 O B. S43290 O C. $21,645 D. $902 On July 1, 2019, Michigan Company has bonds with balances as shown below. Bonds Payable 71,000 Premium on Bonds Payable 3,800 If the company retires the bonds for $74,150, what will be the effect on the income statement? O A. loss on retirement of $650 O B. gain on retirement of $6,950 C. loss on retirement of $6,950 O D. gain on retirement of $650