Current Attempt in Progress

Presented below are two independent situations.

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a$.$ Kenneth Clark Co$.$ sold $$2,150,000$ of $12\%,10-$year bonds at $104$ on January $1,2025.$ The bonds were dated January $1,2025,$ and

pay interest on July $1$ and January $1.$ If Clark uses the straight$-$line method to amortize bond premium or discount, determine the

amount of interest expense to be reported on July $1,2025,$ and December $31,2025.($Round answer to $0$ decimal places, e$.$g$.38,548.)$

Interest expense to be recorded $

b$.$ Steven Garcia Inc. issued $$640,000$ of $8\%,10-$year bonds on June $30,2025,$ for $$493,182.$ This price provided a yield of $12\%$ on the

bonds. Interest is payable semiannually on December $31$ and June $30.$ If Garcia uses the effective$-$interest method, determine the

amount of interest expense to record if financial statements are issued on October $31,2025.($Round intermediate calculations to $6$

decimal places, e$.$g$.1\mathrm{.}251247$ and final answer to $0$ decimal places, e$.$g$.38,548.)$

Interest expense to be recorded $

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