Exercise 10-3 Recording bond issuance and interest LO P1 On Januaryt. Boston Enterprises issues bonds that have a $1.550,000 par value, mature in 20 years, and pay 7% 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 (a) the issuance of bonds on January 1. (b) the first interest payment on June 30, and (c) the second Interest payment on December 31 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. Required Required Requres How much interest will Boston pay (in cash) to the bondholders every six months semiannual semiannual Cash Par maturity Value Rate Required 2 > Required 1 Required 2 Required 3 Prepare journal entries to record (a) the issuance of bonds on January 1, (b) the first interest payment on June 30, and (c) the second Interest payment on December 31. View transaction list Journal entry worksheet Note: Enter debits before credits Date January 01 General Journal Debit Credit Record Journal entry worksheet Record the issue of bonds at 103. Note: Enter debits before credits Date January 01 General Journal Debit Credit