Exercise 9-72 Interest Payments and Interest expense for Bonds (Straight Line) n January 1, 2020, Harrington Corporation sold $425,000 of 15-year, 11% bonds. The bonds sold for and pay interest semiannually on June 30 and December 31. Required: 1. Prepare the journal entry to record the sale of the bonds Calculate the amount of the semiannual interest payment Prepare the entry at June 30, 2020, to recognize the payment of the interest and interest expense. Calculate the annual interest expense for 2020. What is the carrying value of the bond at December 31, 2020? Prepare the journal entry on January 1, 2035 to pay off the bond at maturity. 2. 3. 4. 5. 6