ABC Co issues $100,000, 10-year, 9% at 97, with interest payable on July 1 and January 1. The market rate at the time of issuance is 11%. The effective interest method is used to amortize bond discount.

Prepare the journal entry to record the issuance on January 1.

What total amount of bond interest expense will be recognized over the life of these bonds? (Show work)

Prepare the joirnal entry to record interest expense and bond discount amortization on July 1.. (Show Work)