4. Bonds Payable On June 30th 2012, Milk & Cookies Company issued $7million, 20 year, 11% bonds payable. Interest is payable semiannually on D interest payment date ecember 31st and June 30th of every year. Bond discounts and premiums are amortized at each a. Make the necessary journal entries for 1) issuance of the bond and; 2) interest payment on December 31, 2011 for each of the following assumptions: . The bonds were issued at 98 (round to the nearest dollar). . The bonds were issued at 104 (round to the nearest dollar). b. What will be the maturity value of the bond under each of the two assumptions above? 1) Maturity value for the bonds issued at 98_ 2) Maturity value of the bonds issued at 104