Account Titles and Explanation Debit Credit Date June 30, 2020 Cash 4,688,000 Bonds Payable 4,360,000 Premium on Bonds Payable 328,000 December 31, 2020 Interest Expense 281,280.00 Premium on Bonds Payable 2,120.00 Cash 283,400 June 30, 2021 Interest Expense 281,153 Premium on Bonds Payable 2,247 Cash 283,400 December 31, 2021 Interest Expense 281,018 Premium on Bonds Payable 2,382 Cash 283,400 Show the proper balance sheet presentation for the liability for bonds payable on the December 31, 2021, balance sheet. (Round answers to 0 decimal places, eg. 38,548.) Bonita Company Balance Sheet December 31, 2021 Long-term Liabilities Bonds Payable $ 4,360,000 Premium on Bonds Payable 321251 Book Value of Bonds Payable $ $ 4681251 Provide the answers to the following questions. (1) What amount of interest expense is reported for 2021? (Round answer to 0 decimal places, e.g. 38,548.) Interest expense reported for 2021 $ (2) Will the bond interest expense reported in 2021 be the same as, greater than, or less than the amount that would be reported if the straight-line method of amortization were used? The bond interest expense reported in 2021 will be greater than the amount that would be reported if the straight-line n (3) Determine the total cost of borrowing over the life of the bond. (Round answer to 0 decimal places, e.g. 38,548.) Total cost of borrowing over the life of the bond $ | (4) Will the total bond interest expense for the life of the bond be greater than the same as, or less than the total interest expense if the straight-line method of amortization were used? The total bond interest expense for the life of the bond will be the same as the total interest expense if the straight-line