Schaffer Corporation issued $530,000 of 6%, 10-year bonds payable on March 31, 2019 The market interest rate at the date ofissuance was 10%, and the bonds pay nterest se the following amortization table for Schaffer's bonds: annua y Schaffer Corporation's year-end is March 31 (Click the icon to view the amortization table.) Read the requirements 1. How much cash did Schaffer Corporation borrow on March 31, 2019? How much cash will the company pay back at maturity on March 31, 2029? Schaffer borrowed cash in the amount of $ on March 31, 2019. Schafer will pay back cash in the amount of s at maturity on March 31, 2029. 2. How much cash interest will the company pay each six months? Schaffer will pay $ 3. How much interest expense will Schaffer Corporation report on September 30, 2019, and on March 31, 2020? Why does the amount of interest expense increase each period? Schaffer will report$ Schaffer will report $ Why does the amount of interest expense increase each period? Interest cash interest each six months. of interest expense on September 30, 2019. of interest expense on March 31, 2020. Bond Carrying Amount SemiannualInteresInterest Interest Date Payment Expense Amortization Mar 31, 2019 Sep 30, 201915,900 19,895 $ Mar 31, 2020 Sep 30, 2020 Discount Discount Balance expense increases because the as the bonds move toward maturity S 132,099 $ 397,901 3,995 128,104 401,896 4,195 123,909 406,091 bond carrying amount decreases bond carrying amount increases discount account balance increases 15,900 20 ,095 15,900 20,305 4,405 119,504 410,496 Enter any number in the edit fields and Bautista Corporation issued $200,000, 10%, ten-year bonds on January 1, 2019, for $344,365 when the market interest rate was 2%. Interest is paid semiannually on January 1 and July 1. The corporation uses the effective-interest method to amortize bond discounts and premiums. The total amount of bond interest expense recognized on July 1, 2019, would be closest to O A. $3,444 B. $2,000. O c. $20,000. OD, $10,000