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  3. the fiscal year ends december 31 for lake hamiton

The fiscal year ends December 31 for Lake Hamiton Development. To provide funding for its...

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Accounting

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The fiscal year ends December 31 for Lake Hamiton Development. To provide funding for its Moonlight Bay project, LHD issued 7\% bonds with a face amount of $600,000 on November 1,2024 . The borids sold for $540,622, a price to yletd the market rate of B%. The bonds mature October 31,2043 (20 years). Interest is paid semiannually on Apeli 30 and October 31 and is determined using the effectue interest method. Required: 1. What amount of interest expense related to the bonds will LHD report in its income statement for the year ending December 31 . 2024 ? 2 What amount(s) related to the bonds will LHD report in its balance sheet at December 31,2024 ? 3. What amount of interest expense related to the bonds will LHD report in its income statement for the year ending December 31. 2025 ? 4. 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 onswers in whole dollors

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