Exercise 10-1 Recording bond issuance and interest Lo On January 1, 2017, Boston Enterprises issues bonds that have a $1,750,000 par value, mature in 20 years, and pay 10% interest semiannually on June 30 and December 31. The bonds are sold at par 1. How much interest will Boston pay (in cash) to the bondholders every six months? 2. Prepare journal entries to record (o) the issuance of bonds on January 1, 2017: (b) the first interest payment on June 30, 2017; and (c) the second interest payment on December 31, 2017 3. Prepare the journal entry for issuance assuming the bonds are issued at (a) 97 and (b) 103. Complete this question by entering your answers in the tabs below nces Required 1 Required 2 Required 3 How much interest will Boston pay (in cash) to the bondholders every six months? (maturity) Value Rate est Required 2 Prepare journal entries to record (a) the issuance of bonds on January 1, 2017; (b) the first interest payment on June 30, 2017 the second interest payment on December 31, 2017 and (c) View transaction list Journal entry worksheet Record the issue of bonds at par on January 1, 2017. es Noter Enter debits before credits General Journal Debit Jan 01, 2017 Record enty Clear entry View general journal Prepare the journal entry for issuance assuming the bonds are issued at (a) 97 and (b) 103 View transaction list Journal entry worksheet Record the issue of bonds at 97. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01, 2017 Record entry Clear entry View general journal