Remaining Time: 1 hour, 28 minutes, 01 second. Question Completion Status: On January 1, 2016, Bishop Company issues $960,000, 15 year, 8% bonds (paying semiannual interest) for $1,148,164, when the annual market rate of interest is 6%. If the company uses the effective interest method of amortization, the journal entry to record the semi-annual interest on June 30 will include a: A Credit to cash for $76,800 B. Debit to premium on bonds payable for $3,955 OC. Debit to interest expense for $68,890 OD. Debit to interest expense for $38,400 4 points Save Answer QUESTION 2 Super Clean Inc. sells washing machines with a year warranty. Super Clean estimates that total warranty costs are 3of sales. In the year 2016, Super Clean recorded total sales of washing machines of $1,400,000. The balance in the Estimated Liability for Warranties account was 576,400 on December 31, 2015, and $51,200 on December 31, 2016. What must have been the actual cost of repairs (covered under warranty) for the year 2016? A. $13,800 B. $67,200 OC.565,800 D. $88,600 Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Save and Submit