need help please accounting

24 24,000 24,000 24,000 c. Interest Payable Cash d. Interest Payable. Interest Expense. PART 2: Problems (1-6) Problem 1 On January 1, 2019, Apple Company issued bonds with a face value of $600,000. The bonds carry a stated interest of 7% payable each January 1. (10 pts) Instructions Prepare the journal entry for the issuance assuming the bonds are issued at 95. Prepare the journal entry for the issuance assuming the bonds are issued at 105. a. b. Page 2 Problem 2 Summerland Company had the following transactions involving notes payable. Nov. 1, 2018 Borrows $245,000 from Bank of America by signing a 3-month, 12% note. Dec. 31, 2018 Prepares the adjusting entry. Feb. 1. 2019 Pays principal and interest to Bank of America. Instructions Prepare journal entries for each of the transactions. (15 pts) Problem 3 Prepare the necessary journal entry for each of the following transactions for Figs Corporation. (15 pts) Issued 2,000 shares of its $5 par value common stock for $20 per share. b Issued 5,000 shares of its no-par preferred stock for $16 per share. a Page 3