3. At a Premium: Garcia Company issues 10%, 15-year bonds with a par value of $240,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 8%, which implies a selling price of 117 14. The effective interest method is used to allocate interest expense. A. What are the issuer's cash proceeds from issuance of these bonds? OVE B. Prepare the journal entry to record the issuance of the bond. C. Use the table below to help you prepare the journal entry to record the first semi-annual interest payment/ expense. D. Complete the Effective Interest Amortization Schedule for the 1" year. (A) (B) (C) (D) (E) Cash Interest Paid Bond Interest Expense Period Ending Date Notes Premium or Discount Amortization Interest expense- interest paid Unamortized Carrying Value Premium or Discount Par +/- Carrying Value Stated Rote/2 x Par Market Rote/2 * Carrying Value Initial Date 1" semi- annual date 2 semi- annual date