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bearsaw inc is. a private company following ASPE is contemplating issuing $200,000, 5-year bond on January 1, 2024 paying 5% interest on a semi-annual basis

bearsaw inc is. a private company following ASPE is contemplating issuing $200,000, 5-year bond on January 1, 2024 paying 5% interest on a semi-annual basis every January 1 and July 1. Prepare the first-year journal entries for the bond issue and interest expense assuming that the company uses straight-line amortization, a market interest rate of 4% and has a year-end of December 31, 2024

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