Exercise 10-3A Computing bond interest and price; recording bond issuance LO C2 Bringham Company issues bonds with a par value of $560,000 on their stated issue date. The bonds mature in 8 years and pay 7% annual interest in semiannual payments. On the issue date, the annual market rate for the bonds is 10%. (Table B.1, Table B.2, Table B.3, and Table B.4) (Use appropriate factor(s) from the tables provided.) 1. What is the amount of each semiannual interest payment for these bonds? 2. How many semiannual interest payments will be made on these bonds over their life? 3. Use the interest rates given to select whether the bonds are issued at par, at a discount, or at a premium. 4. Compute the price of the bonds as of their issue date. 5. Prepare the journal entry to record the bonds' issuance. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Req 1 to 3 Req 5 Req 4 Prepare the journal entry to record the bonds' issuance. (Round intermediate calculations to the nearest dollar amount.) No Transaction General Journal Debit Credit Cash 1 1 468,955 91,045X Discount on bonds payable Bonds payable 560,000 Req 4 Reg 5 Prey 1 of 1 Next