Glover Corp issued 2,000,000 of 8% 5 year bonds dated March 2nd, 2018 and received cash of 1940000. Semi annual interest payments occur twice a year. The year end is Dec 1st. Were the bonds issued at a premium, discount or face value? Was the market rate of interest higher, lower, or the same as the contract rate of interest? If the company uses the straight line method what si the amount of interest expense they will pay at the end of the year? What is the carrying value of the bonds on Dec 31 after recording the semi annual interest payment? Semi annual payments made on September 1 and March 1