IUSCU W the Retained Earnings account. Questions 6 - 13: Davis Corporation issues a $100,000 of five-year, 8% bonds that pay interest semiannually. The market rate of interest is 10%. 6. Determine the Present Value of Bonds Payable. 7. Journalize the issuance of the bond on January 1, 2018. 8. Journalize the interest expense on June 30, 2018. 9. Journalize the retirement of the bond on December 31, 2023. Davis Corporation issues a $100,000 of five-year, 8% bonds that pay interest semiannually. The market rate of interest is 6%. 10. Determine the Present Value of Bonds Payable. 11. Journalize the issuance of the bond on January 1, 2018. 12. Journalize the interest expense on June 30, 2018. 13. Journalize the retirement of the bond on December 31, 2023