1 Bonds payable-various issues On January 1, 2018, $50 million face amount of 9%, 10-year bonds were issued. The bonds pay interest on an annual basis on December 31 each year. The market interest rates were slightly higher than 9% when the bonds were sold. Required: b. Calculate the interest that will be paid annually on these bonds? Explain if the bonds were issued at a premium or discount? What does it mean to issue a share at a premium? Interest on bonds has not been accrued for 6 months. On 30 June 2018 what will be the adjustments required-use a journal to show this or the horizontal method