Latenight Drive-Ins Ltd. borrowed money by issuing $3,500,000 of 4% bonds payable at 97.5 on July 1, 2021. The bonds are 10-year bonds and pay interest each January 1 and July 1. Read the requirements. 1. How When Jour Requirements 1. 2. Jul 3. 4. 2. How At ma The m How much cash did Latenight receive when it issued the bonds payable? Joumalize this transaction. How much must Latenight pay back at maturity? When is the maturity date? How much cash interest will Latenight pay each six months? How much interest expense will Latenight report each six months? Use the straight-line amortization method. Joumalize the entries for the accrual of interest and amortization of discount on December 31, 2021, and the payment of interest on January 1, 2022. Print Done 3. How much cash interest will Latonight pay each six months? Every six months, Latenight will pay interest of - X journal entries