PLEASE RESPOND ASAP

1) On January 1, the first day of the fiscal year, Designer Fabric Inc. issues a $950,000, 8%, 10-year bond that pays

semiannual interest of $38,000 ($950,000 8% year), receiving cash of $950,000.

Journalize the entry to record the first interest payment on June 30.

2) The following data were accumulated for use in reconciling the bank account of Douglas Co. for August 20Y6:

1. Cash balance according to the company's records at August 31, $13,900.

2. Cash balance according to the bank statement at August 31, $15,000.

3. Checks outstanding, $3,000.

4. Deposit in transit, not recorded by bank, $2,000.

5. Interest earned of $140 from bank statement.

6. Bank debit memo for service charges, $40.

Prepare a bank reconciliation.