A company issued 5-year, 7% bonds with a par value of $100,000 on January 1st. The market rate when the bonds were issued was 6.0%. Interest is paid 2 times per year (June 30 and December 31st). Calculate the sale price and record the journal entry for this sale. Using the straight-line method, calculate the amount of interest expense for the first semiannual interest period and record the journal entry.