Baxter's Hamburgers issued 7%, 10-year bonds payable at 95 on December 31, 2018 A December 31, 2020, Baxter reported the bonds payable as follows: (Click the icon to view the bonds payable) Bader's pays semiannual interest each June 30 and December 31 (Assume bonds payable are amortized using the straight-line amortization method) Read the requirements Requirement 1. Answer the following questions about Baste's bonds payable: .. What is the maturity value of the bonds? 5 b. What is the carrying amount of the bonds at December 31, 202075 c. What is the semiannual cash interest payment on the bonds? 5 d. How much interest expense should the company record each year? Requirement 2. Record the June 30, 2020, semiannual interest payment and amortization of discount (Record debit first, the credits Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit 2020 Jun 30 Requirements 1. Answer the following questions about Badter's bonds payable: a. What is the maturity value of the bonds? b. What is the carrying amount of the bonds at December 31, 2020? c. What is the semiannual cash interest payment on the bonds ? d. How much interest expense should the company record each year? 2. Record the June 30, 2020, semiannual interest payment and amortization of discount. Data Table Long-term Liabilities: Bonds Payable able Less: Discount on Bonds Payable $ _ 700,000 (28,000) s 672,000 Print Done