Interest Payments and Interest Expense for Bonds (Straight Line) Swiss Inc. sold 2,000 15 -year bonds with $1,000 face value each and a stated rate of 6%. The bonds sold at 104.5 on January 1, 2020, and pay interest semi-annually on June 30 and December 31. Required: 1. Prepare the entry to recognize the sale of the bonds 2. Determine the amount of the semi-annual interest payment required by the bonds. 3. Prepare the journal entry made by Swiss at June 30,2020 , to recognize the interest expense and an interest payment. 4. Determine the amount of interest expense for 2020. 4. Determine the amount of interest expense for 2020. 5hat is the carrying value of the bond at Dec. 31, 2020? At Dec. 31, 2021? At Dec. 31, 2022? 6. Prepare the journal entry on January 1,2035 to pay off the bond at maturity. Interest Payments and Interest expense for Bonds (Straight Line) On January 12021 , Panamint Candy Company sold $300,000 of 5 -year, 9% bonds. The bonds sold at 95 and pay interest semiannually on June 30 and December 31. 1. Prepare the journal entry to record the sale of the bonds Required: 2. Calculate the amount of the semiannual interest payment 3. Prepare the entry at June 30,2021 , to recognize the payment of the interest and interest expense. 4. Wh. What is the carrying value of the bond at Dec. 31, 2021? At Dec. 31, 2022? At Dec. 31, 2023? At De 4. Calculate the annual interest expense for 2021 . 6. Prepare the journal entry on January 1,2026 to pay off the bond at maturity. 31,2024 At Dec. 31, 2025