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Show the proper balance sheet presentation for the liability for bonds payable on the December 31, 2026, balance sheet. (Round answers to 2 decimal places, es. 38,548.25.) 1. What amount of interest expense is reported for 2026 ? (Round answer to 2 decimal places, eg. 38,548.25.) Interest expense reported for 2026 2. Will the bond interest expense reported in 2026 be the same as, greater than, or less than the amount that would be reported if the straight-line method of amortization were used? The bond interest expense reported in 2026 will be the amount that would be reported if the straight-line me 3. Determine the total cst of borrowing over the life of the bond. (Round answer to 0 decimal places, e. 8.38,548 ) Total cost of borrowing over the life of the bond 4. Will the total bond interest expense for the life of the bond be greater than, the same as, or less than the total interest expense if the straight-line method of amortization were used? The total bond interest expense for the life of the bond will be the total interest expense if the straight-line me On June 30,2025 , Jason Allen Company issued $3,400,000,00 face value of 13%,20-year bonds at $3,655,780.00, a yield of 12%. Allen uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest on June 30 and December 31. Click here to view factor tables. (a) Your answer is correct. Prepare the journal entries to record the following transactions. (Round answer to 2 decimal places, es. 38,548.25. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts. Credit occount titles are outomatically indented when the amount is entered. Do not indent manually List all debit entries before credit entries.) 1. The issuance of the bonds on June 30,2025. 2. The payment of interest and the amortization of the premium on December 31,2025. 3. The payment of interest and the amortization of the premium on June 30,2026