Scranton Co issues a 5 year, $10,000 bond on May 1, 2020, with a 7% coupon payable on November 1st and May 1st. The bonds sold for 95.94 at a market rate of 8%. What is the interest expense in the adjusting journal entry required on Dec 31, 2020? Round your answer to two decimal places, but do not round intermediate calculations. Do not put a $ or comma in your answer. Answer: Dunder Inc issued a $1,000, 7-year bond on June 1, 2020. The bond was sold for 106.05 at a market rate of 4%. It paid a 5% coupon semi-annually on December 1st and May 1st. What is the carrying amount of the bond on Dec 1, 2020? Round your answer to two decimal places, but do not round intermediate calculations. Do not put a $ or comma in your