he fiscal year ends December $31$ for Lake Hamilton Development. To provide funding for its Moonlight Bay project, LHD issued $7\%$ bonds with a face amount of $$660,000$ on November $1,2024.$ The bonds sold for $$594,684,$ a price to yield the market rate of $8\%.$ The bonds mature October $31,2043(20$ years$).$ Interest is paid semiannually on April $30$ and October $31$ and is determined using the effective interest method.

Required:

What amount of interest expense related to the bonds will LHD report in its income statement for the year ending December $31,2024?$

What amount$($s$)$ related to the bonds will LHD report in its balance sheet at December $31,2024?$

What amount of interest expense related to the bonds will LHD report in its income statement for the year ending December $31,2025?$

What amount$($s$)$ related to the bonds will LHD report in its balance sheet at December $31,2025?$

Note: For all requirements, do not round your intermediate calculations. Enter your answers in whole dollars.