Genentech Inc., a biotech company, issues 1.000 15-vear 7% bonds with interest payable semiannually on March 1 and September1. The bonds have a face value of $1,000 each and are issued on March 1, 2023. At the time of issuance, the market rate for bonds of similar risk profile is 7%. The company's fiscal year end is Dec 31. Answer the following independent questions: Record all the journal entries required in the fiscal year Jan-Dec 2023 assuming the bonds issued at par. Since printing of the bond certificates took longer than expected, the bonds were actually issued on May 1,2023. The market rate on May 1,2023 is still 7%. Answer the following

Record all the journal entries required for the fiscal year Jan-Dec 2023. Assume the bonds were issued on March 1,2023. Record the journal entry on March 1,2023 if market interest rates on that day were 9%. Record the bond issuance on Mar 1,2023 assuming the market interest rate on that day was 5%?