On January $1,$ Boston Enterprises issues bonds that have a $$2,100,000$ par value, mature in $20$ years, and pay $7\%$ interest semiannually on June $30$ and December $31.$ The bonds are sold at par.

How much interest will the issuer pay $($in cash$)$ to the bondholders every six months?

Prepare journal entries to record

$($a$)$ the issuance of bonds on January $1,$

$($b$)$ the first interest payment on June $30,$ and

$($c$)$ the second interest payment on December $31.$

Prepare the journal entry for issuance assuming the bonds are issued at

$($a$)98$ and

$($b$)102.$

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Required $1$

How much interest will the issuer pay $($in cash$)$ to the bondholders every six months?

$\backslash$table$[[$Par $($maturity$)$ Value,$\backslash$table$[[$Semiannual$],[$Rate$]],,\backslash$table$[[$Semiannual Cash$],[$Interest Payment$]],],[,,,=,],[,,,,]]$