Refer to Exhibit 14-8. Interest expense after the July 1, 2020, interest payment has been posted is O $6,250 3 $12,500 $18,000 O$12,000 3 3 Exhibit 14-8 Piazzi, Inc. sold $400,000 of its 9%, five-year bonds dated January 1, 2020, on May 1, 2020, for $393,000 plus accrued interest. Interest is paid on January 1 and July 1 and straight-line amortization is used. 50