Question: 19.20.The below information will be used for the next three questions. A Company issued the following bond payable on March 31, 20X1, the interest payment

19.20.The below information will be used for the next three questions.

A Company issued the following bond payable on March 31, 20X1, the interest payment date.

Bond payable 800,000
Coupon rate 5.200%
Market rate 8.428%
Bond yield rate 9.400%
Bond issue price 630,000
Term 10
Bond issue costs 42,000
Bond issue date March 31, 20X1

1.The Company prepares financial statements on December 31, 20X1. What is interest expense in 20X1?

2. The Company prepares financial statements on December 31, 20X1. What is the carrying value of the bond at December 31, 20X1?

3. What is interest expense in 20X2?

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