Please provide solution for each problem in good accounting form. Thank you!

1. On April 30, CHIA-SEED Company issued 7,000 of 15% 1,000 bonds at 95. The bonds have a five-year term and interest is payable semi-annually, May 1 and November 1. The entity elected the fair value option. The entity paid bond issue cost of 125,000. On December 31, 2021, the fair value of the bonds is 104. It is reliably determined that the fair value increase comprised of 25% attributable to credit risk and the remainder is attributable to change in market interest rate. What is the interest expense for the year ended December 31, 2021?

2. SESAME-SEED Company has a bonus agreement which provides that the senior managers will receive an annual bonus of 12% of the net income after bonus and tax. The income tax rate is 30%. The senior managers received 250,000 for the current year as bonus. What is the net income before bonus and tax?

3. On March 1, 2021, FLAXSEED Inc. issued at 97, including accrued interest, 2,550 of its 10%, 1,000 bonds. The bonds are dated January 1, 2021 to mature on January 1, 2031. Interest is payable semi-annually on January 1 and July 1. From the bond issuance, how much cash did FLAXSEED receive?

4. GINKGO-NUTS Enterprises' purchases per purchase invoice is 150,000. The purchase discount is 2/10, n/30. Freight is 500, FOB Shipping point prepaid. At what amount is the accounts payable debited upon payment?

5. On April 30, CHIA-SEED Company issued 7,000 of 15% 1,000 bonds at 95. The bonds have a five-year term and interest is payable semi-annually, May 1 and November 1. The entity elected the fair value option. The entity paid bond issue cost of 125,000. On December 31, 2021, the fair value of the bonds is 104. It is reliably determined that the fair value increase comprised of 25% attributable to credit risk and the remainder is attributable to change in market interest rate. What amount of gain or loss should be recognized in profit or loss for 2021 to conform with the fair value option?

6. During 2021, PUMPKIN Company experienced financial difficulties and is likely to default on a 5,000,000, 15% three-year note dated January 1, 2019, payable to Summit Bank. On December 31, 2021, the bank agreed to settle the note and unpaid interest of 750,000 for 2021 for 4,100,000 cash payable on January 31, 2022. What amount should PUMPKIN report as gain or loss from extinguishment of debt in its 2021 income statement? (If gain, maintain as is; if loss, put a negative (-) sign before the numerical figure)