17 Part 3 of 4 1.53 points Skipped Required Information Problem 7-31 (Algo) Bonds payable-calculate issue price and amortize discount LO 8 [The following Information applies to the questions displayed below.] On January 1, 2019, Drennen Inc. Issued $4.1 million face amount of 7-year, 14% stated rate bonds when market Interest rates were 12%. The bonds pay semiannual Interest each June 30 and December 31 and mature on December 31, 2025. Table 6-4, Table 6-5 (Use appropriate factor from the table provided.) eBook References Problem 7-31 (Algo) Part b - Journal entry b-2. Assume Instead that the proceeds were $4,036,000. Record the journal entry to show the payment of semiannual Interest and the related discount amortization on June 30, 2019, assuming that the discount of $64,000 amortized on a straight-line basis. (If no entry is required for a transaction/event, select "No journal entry required" In the first account field.) View transaction list Journal entry worksheet < 1 Record the semiannual cash payment and amortization of discount. Note: Enter debits before credits. Event General Journal Debit Credit 1 Interest revenue Record entry Clear entry View general journal