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M QUESTIONS: 1. (4 pts. Easthouse, Inc., sells $1,000,000 general obligation bonds for 97. The interest on the bend. paid quarterly, is 5 percent Calculate (a) the amount that the company will actually receive from the sales of bonds, and (b) the amount of both quarterly and the total annual cash interest that the company will required to pax. (c) recalculate the amount received from the sales of bonds and the quarterly and anual interest payment if the price for the bonds is 103. 2. (4 pts) On January 1, Motel Cozy purchased furnishings at cost of $33,300. The loan was a three- year loan and had an interest of 4%. The annual payment is $12,000. Prepare an amortization table for the three years, showing (1) the original balance of the loan and (2) the allocation for the three years between interest expense and the reduction in the loan's unpaid balance. Annual Fixed Interest Principal Unpaid Payment Expense Reduction Balance Year