Adam, Inc., issued $160,000 of 15-year, 10 percent bonds payable on January 1. Adam, Inc., pays interest each January 1 and July 1 and amortizes any discount or premium by the straight-line method. Adam, Inc., can issue its bonds payable under various conditions: i (Click the icon to view the conditions.) Read the requirements. 1 More Info a. Issuance at par value b. Issuance at a price of $130,000 when the market rate was above 10 percent c. Issuance at a price of $180,000 when the market rate was below 10 percent Requirements 1. Journalize Adam, Inc.'s issuance of the bonds and first semiannual interest payment for each situation. Round calculations to the nearest dollar. Explanations are not required. 2. Which condition results in the most interest expense for Adam, Inc.? Explain in detail. b. Record the issuance at a price of $130,000 when the market rate was above 10 percent. Journal Entry Date Accounts Debit Credit Jan 1