XYZ Corporation issues $1,000,000 of face value bonds that mature in 20 years at a discount on January 1, 2021. XYZ received a total of 1960.000 on January 1, 2020 The contractual interest rate for the bonds is 6% and the market rate of interest at the date of ini Uintheright method, what is the total amount of interest expense, including amortization of the discount, that XYZ should recomie on December 31, 2021 when XYZ accrues the interest on the bands for 2021? O $70.000 $60.000 O $58,000 $62,000 3.85 Question 3 3.85 pts Question 3 On November 1, 2021. Hipps Company borrowed $100.000 from City National Bank on a 6-month, 6 note payable. The entire principal interest is due on April 30, 2022. If the company's year-end is December 31, 2021. what adjusting entry should Hipps Company make on December 31, 20212 Debit interest Boerse 3.000.Credit Interest Payable 2.000 Debit interest Expense 1.000: Credit Interest Payable 1.000 Debit Interest Expense 1.000: Credit Cash 1.000 Debit Interest Payable 1.000: Credit Interest Expense 1.000 Question 4 3.85 pts Using the same facts as in Question 3 above, when Hipps Company repays the $100.000 note plus the interest on April 30, 2022. the entry to record this transaction will debit interest Expense in the amount of $2.000 $1,000 $6.000 $3.000 3.25 Testion 5