For each of the following bonds provide the journal entry for (1) the bond issuance, (2) each payment of interest, and (3) repayment of the bond at maturity.

1. Hammer Corp issued bonds with a par value of $80,000 at 98. The bond will mature in 2 years and interest is paid semiannually. The bonds have a stated rate of 6% and the market rate for bonds with the same risk as Hammer Corp is 8%.

2. Gemini, Inc. issued bonds with a par value of $120,000 at 103. The bond will mature in 2 years and interest is paid semiannually. The bonds have a stated rate of 6% and the market rate for bonds with the same risk as Gemini, Inc. is 5%.

3. Hammer Corp issued bonds with a par value of $80,000. The bond will mature in 3 years and interest is paid quarterly. The bonds have a stated rate of 8%.

4. Windjammer Enterprises, Inc. issues 10%, 15-year bonds with a par value of $240,000 and semiannual interest payments. On the issue date, the annual market rate for bonds is 8%, which implies a selling price of 11714.