Exercise 10-3A Computing bond interest and price; recording bond issuance LO C2 Bringham Company issues bonds with a par value of $550,000 on their stated issue date. The bonds mature in 7 years and pay 6% annual interest in semiannual payments. On the issue date, the annual market rate for the bonds is 8%. 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. Complete this question by entering your answers in the tabs below. Req 5 Req 1 to 3 Req 4 What is the amount of each semiannual interest payment for these bonds? How many semiannual interest payme ents will be made on these bonds over their life? here to search F5 6 5 3 Req 1 to 3 Req 4 Req 5 What is the amount of each semiannual interest payment for these bonds? How many semiannual interest payments will be made on these bonds over their life? Use the interest rates given to select whether the bonds are issued at par, at a discount, or at a premium 15 Semiann Rate Semiannual cash interest payment Par (maturity) value Number of payments Print Whether the bonds are issued at par, at a discount, or at a premium? Req4> a e O Type here to search Chapter 10 3 Req 1 to 3 Req 5 15 Req 5> Req 1 to 3 Next K Prev3 of 9 O Type here to search 3 Journal entry worksheet 15 Record the issue of bonds with a par value of $550,000 for cash. eBook Hint Print Note: Enter debits before credits Transaction Next> K Prev 3 of 9 O Type here to search 2 F2