Interest Payments and Interest Expense for Bonds (Straight Line) Swiss Inc. sold 15-vear bonds with a total face amount of $1,800,000 and a stated rate of 8%. The bonds sold for $1,887.000 on January 1, 2024, and pay interest semiannually on June 30 and December 31. Required: 1. Prepare the entry to recognize the sale of the bonds. If an amount box does not require an entry, leave it blank, 2024 Jan. 1 55 (Record issuance of bonds at premium.) 2. Determine the amount of the semiannual interest payment required by the borda 3. Prepare the Journal entry made by Swiss at June 30, 2020, to recognize the interest expense and an interest payment. If an amount box does not require an entry leave it blank 2024 June 10 (Record interest expense) 4. Determine the amount of Interest expense for 2024 S. Conceptual Connection: If Swios issued bonds with a variable interest rate, would you expect the market rate of interest (e yield) to increase decrease, or stay the same