b. Calculate the interest expense on the bonds for the first year that the bonds are outstanding. $2,400,000 c. Calculate the book value of the bonds at the end of the first year. $ 51,966,164

$70,000 worth of 5 year bonds were issued on January 1st with a contract rate of 5% and market rate of 6%. Interest is paid semiannually. Calculate the amount of interest paid to bondholders on July 1st. $4.200 O 31,750 $3.500 O $2,100

1. On January 1, a company issues bonds dated January 1 with a par value of $300,000. The bonds mature in 5 years. The contract rate is 9%, and interest is paid semiannually on June 30 and December 31. The market rate is 8% and the bonds are sold for $312,177. The journal entry to record the issuance of the bond is: Debit Cash $312,177; credit Discount on Bonds Payable $12,177; credit Bonds Payable $300,000. Debit Cash $300,000; debit Premium on Bonds Payable $12,177; credit Bonds Payable $312,177. Debit Bonds Payable $300,000; debit Interest Expense $12,177; credit Cash $312,177. Debit Cash $312,177; credit Premium on Bonds Payable $12,177; credit Bonds Payable $300,000. Debit Cash $312,177; credit Bonds Payable $312,177.

issued $ 480,000 of 4%, 10-year bonds payable at a price of 94. The market interest rate at the date of issuance was 5%, and the bonds pay interest semiannually. The journal entry to record the first semiannual interest payment using the effective interest amortization method is?