Journalire issuance of the band and the first semiannual interest payment under each of the three assumptions. The company amortizes bond premium and discount by the effective-interest amortization method. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries. Round your final answers to the nearest whole dollar) Assumption 2. Samo bonds payable as in assumption 1, but the market interest rate is 10%. The present value of the bonds et inuence is $70,110. Joumalize the issuance of the bonds when the market interest rate is 10% Date Accounts Debu Cred Cash 70,110 Discount on Bonds Payable Bonds Payable Journalize issuance of the bond and the first semiannual interest payment under each of the three msumptions. The company amortizes bond premium and discount by the effective-interest amonization method. Explanations are not required. (Record debis first, then credits. Exclude explanations from any jumal entries. Round your final answers to the nearest wholedo) Assumption 1. Seven-yow bonds payable with face value of $84.000 and stated estrate of 12% paid semanuely. The market rate of interest is 1 unce. The present value of the bonds since is $4.000 Jourmalize the issuance of the bonds when the market interest rate is 12% More info Date Accounts Debat Credit Cash 84.000 Bonds Payable 34.000 1. Seven-year bonds payable with face value of $4.000 and stated interest rate of 12% paid seinally the mate of interest is 125 at isance. The present of the bonds wance is $14.000 2. Same bonds payable as in assumption but the market interest rate is 16%. The present value of the bonds wance is $70,110, Journalize the first semiannual interest payment on the bonds 3. Same bonds payable as insumtion, but the market interest rates. The present value of the bonds ance is $101,706 Date Account Det Credit Done Choose from any list or enter any number in the input fields and then click Check Answer Bonds Payable 84,000 Journalize the first semiannual interest payment on the bonds. Date Accounts Debit Credit Interest Expense 5,040 Cash 5,040