Bond Premium, Entries for Bonds Payable Transactions Rodgers Corporation produces and sells football equipment. On July 1, Year 1, Rodgers Corporation issued $22,800,000 of 10 -year, 13\% bonds at a market (effective) interest rate of 12%, receiving cash of $24,107,461. Interest on the bonds is payable semiannually on December 31 and June 30 . The fiscal year of the company is the calendar year