On January 1, Owens Corporation issued 10%, 10-year bonds at 103. The face value is $150,000 and interest is paid semiannually. REQUIRED: Prepare the journal entries to record: a. Issuance of the bonds. b. First semiannual interest payment and amortization of the premium using straight-line. Northern Lights Company on July 1, issued 10%, $600,000 bonds for $564, 149 This price will yield a market rate of 11%. Interest dates are June 30 and December 31. REQUIRED: Complete the table below for first four semiannual interest periods using the effective interest method. REQUIRED Prepare the journal entries to record: a. Issuance of the bond b. Payment for the second semiannual interest period plus amortization of the discount using the effective interest method