P 10-1 Round Corporation was authorized to issue $300,000 of bonds. On January 1, 2019, the corporation issued $150,000 of bonds for $147,000. Details of the bond indenture are as follows: Date of authorization Interest Term rate Interest payment dates January 1, 2019 3 years 12% Semi-annually on June 30 and December 31 Required: 1. Calculate a. The amount of interest paid every interest payment date b. The amount of amortization to be recorded at each interest payment date (use the straight-line method of amortization). 2. Calculate actual interest expense for each six-month period. CHAPTER TEN/Debt Financing Bonds First US Edition