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Chapter 13 - Bonds Cole Corporation issues bonds dated January 1, 2020, that pay interest semiannually on June 30 and December 31. The bonds have

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Chapter 13 - Bonds Cole Corporation issues bonds dated January 1, 2020, that pay interest semiannually on June 30 and December 31. The bonds have a $20,000 par value and an annual contractual rate of 10% and they mature in 5 years. 1.) On January 1, 2020 the bonds were issued at 108.115 when the market rate was 8%. Prepare the journal entry for issuance. Date Accounts Debit Credit How much interest will the bondholders receive as their cash interest payment on June 30, 2020? Show your work. 2.) Assume instead, on January 1, 2020 the bonds were issued at 98.7115 when the market rate was 12%. Prepare the journal entry for issuance. Date Accounts Debit Credit How much interest will the bondholders receive as their cash interest payment on June 30, 2020? Show your work. $

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