Q2. Maritime Industries Ltd. Had the following transactions between 2020 - 2030: 2020 Jan. 1 Issued $600,000 of 8%, 10-year bonds at 97. July 1 Paid semi-annual interest and amortized bonds by the straight-line method on the 8% bonds payable. Dec. 31 Accrued semi-annual interest expense and amortized bonds by the straight-line method on the 8% bonds payable. 2021 Jan. 1 Paid semi-annual interest. 2030 Jan. 1 Paid the 8% bonds at maturity. I Required: Journalize the following transactions of Maritime Industries Ltd. At December 31, 2020, after all year-end adjustments, determine the carrying amount of Maritime's bonds payable, net. For the six months ended July 1, 2020, determine the TWO for Maritime: Interest expense & Cash interest paid. What causes interest expense on the bonds to exceed cash interest paid