Question 6 of 12 0/2 111 Presented below are two independent situations (a) Swifty Co. sold $2,150,000 of 12%, 10-year bonds at 104 on January 1, 2020. The bonds were dated January 1, 2020, and pay interest on July 1 and January 1. If Swifty uses the straight-line method to amortize bond premium or discount, determine the amount of interest expense to be reported on July 1, 2020, and December 31, 2020. (Round answer to O decimal places, eg. 38,548.) Interest expense to be recorded $ 117160 (b) Nash Inc. issued $640,000 of 8%, 10-year bonds on June 30, 2020, for $493,182. This price provided a yield of 12% on the bonds Interest is payable semiannually on December 31 and June 30. If Nash uses the effective-interest method, determine the amount of interest expense to record if financial statements are issued on October 31, 2020. (Round intermediate calculations to 6 decimal places, eg. 1.251247 and final answer to decimal places, eg, 38,548.) 19208 Interest expense to be recorded e Textbook and Media Attempts: 1 of 3 used Submit Answer Save for Later