Sciamanna Corporation issued $300,000 of 12%, 10-year bonds payable on January 1, 2019. The market interest rate at the date of issuance was 10%, and the bonds pay interest semiannually (on June 30 and December 31). Sciamanna Corporation's year-end is June 30. Sciamanna prepared an effective-interest amortization table for the bonds through the first three interest payments as follows: (Click the icon to view the amortization schedule.) Read the requirements 1. How much cash did Sciamanna Corporation borrow on January 1, 2019? How much cash will Sciamanna Corporation pay back at maturity? on January 1, 2019. The company will pay back S at maturity 2. How much cash interest will Sciamanna Corporation pay each six months? Sciamanna will pay 3. How much interest expense will Sciamanna Corporation report on June 30, 2019, and on December 31, 2019? Does the amount of interest expense increase or decrease each period? Why? Sciamanna will report $ Sciamanna will report $ Does the amount of interest expense increase or decrease each period? Why? The amount of interest expense cash interest each six months. of interest expense for the six months ending June 30, 2019 of interest expense for the six months ending December 31, 2019 each period because the carrying value of the bonds overtime and interest expense is based on the value of the bonds. Requirements increases remains the same Use the amortization table for Sciamanna Corporation's bonds to answer the following questions: 1. How much cash did Sciamanna Corporation borrow on January 1, 2019? How much cash will Sciamanna Corporation pay back at maturity? 2. How much cash interest will Sciamanna Corporation pay each six months? 3. How much interest expense will Sciamanna Corporation report on June 30, 2019, and on December 31, 2019? Does the amount of interest expense increase or decrease each period? Why? Print Done