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[ The following information applies to the questions displayed below. ] PowerTap Utilities is planning to issue bonds with a face value of $ 1

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[The following information applies to the questions displayed below.]
PowerTap Utilities is planning to issue bonds with a face value of $1,200,000 and a coupon rate of 8 percent. The bonds mature in 8 years and pay interest semiannually every June 30 and December 31. All of the bonds were sold on January 1 of this year. PowerTap uses the effective-interest amortization method. Assume an annual market rate of interest of 10 percent. (FV of $1, PV of $1, FVA of $1, and PVA of $1)
Note: Use appropriate factor(s) from the tables provided.
P10-6 Part 2
2. What amount of interest expense should be recorded on Juns 30 and December 31 of this year?
Note: Round your final answers to nearest whole dollar amount.
\table[[,June 30,December 31],[Interest expense,,]]
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