More info Tiz zel er ny debit np ir 1. Seven-year bonds payable with face value of $87,000 and stated interest rate of 12%, paid semiannually. The market rate of interest is 12% at issuance. The present value of the bonds at issuance is $87,000. 2. Same bonds payable as in assumption 1, but the market interest rate is 14%. The present value of the bonds at issuance is $79,405. 3. Same bonds payable as in assumption 1, but the market interest rate is 8%. The present value of the bonds at issuance is $105,338. alia Print Done Halid Journalize issuance of the bond 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.) Journalize the first semiannual interest payment on the bonds. Date Accounts Debit Credit Interest Expense Cash Assumption 2. Same bonds payable as in assumption 1, but the market interest rate is 14%. The present value of the bonds at issuance is $79,405 Journalize the issuance of the bonds when the market interest rate is 14% Date Accounts Debit Credit Journalize the first semiannual interest payment on the bonds Accounts Dobit Date Credit Assumption 3. Same bonds payable as in assumption 1, but the market interest rate is 8%. The present value of the bonds at issuance is $105,338. Joumalize the issuance of the bonds when the market interest rate is 8%. Credit Date Accounts Debit Journalize the first semiannual interest payment on the bonds Date Accounts Debit Credit