(3) Kamal Corporation issued a 3- year bonds at face value of $200,000 on Jan. 1, 2020, a stated interest rate of 8%, and market rate of 8%. Prepare Kamal's journal entries for 2020 and 2022. Answer: Date Cash Paid 8% Interest Expense 8% Carrying Amount 1/1/20 1 31/12/20 31/12/21 31/12/22