Cheyenne Corporation issues $156278 of 5-year, 11% bonds on January 1 of the current year at face value, with interest payable on June 30 and December 31? The fiscal year of the company is the calender year. What value is recorded for interest expense on June 30? Then write a journal entry for issuing the bonds.

Cheyenne Corporation issues $156278 of 5 -year. 11% bonds on January1 of the current year at face value, with interest payable on June 30 and December 312 The fiscal year of the company is the calendar year. What value is recorded for interest Expense on June 30 ? (Round to the nearest dollar.) Ch 11A1 Using the information from the previous question, write the journal entry for issuing the bonds