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. The fiscal year ends December 31 for Lake Hamilton Development. To provide funding for its Moonlight Bay project, LHD Issued 9% bonds with a

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The fiscal year ends December 31 for Lake Hamilton Development. To provide funding for its Moonlight Bay project, LHD Issued 9% bonds with a face amount of $690,000 on November 1, 2024. The bonds sold for $630,804, a price to yleld the market rate of 10%. The bonds mature October 31, 2043 (20 years). Interest is pald semlannually on April 30 and October 31 and Is determined using the effectlve interest method. Requlred: 1. What amount of Interest expense related to the bonds will LHD report in its income statement for the year ending December 31 , 2024 ? 2. What amount(s) related to the bonds will LHD report in its balance sheet at December 31,2024 ? 3. What amount of Interest expense related to the bonds will LHD report in its income statement for the year ending December 31 , 2025? 4. What amount(s) related to the bonds will LHD report in its balance sheet at December 31,2025 ? Note: For all requirements, do not round your intermediate calculations. Enter your answers in whole dollars

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