Print Item 1. Assuming that no bonds had been issued prior to Year 1, how many different bonds appear in the journal entries for this year? 2 2. Which entry shows bonds issued at a contract rate lower than the market rate of interest? Choose the date. July 1 3. How much interest was paid during the year on the bonds in question (2)? 21,375 x 4. What is the carrying amount of the bonds in question (2) at the end of the year? 5. Which entry shows bonds that sold for more than their face amount? Choose the date. Jan. 1 6. How much interest was paid during the year on the bonds in question (5)? 55,830 X 7. Assuming that straight-line amortization is used for the bonds in question (5), what is the bond life? 10 years 8. What is the carrying value of the bonds in question (5) at the end of the year? $ 37,403 X Journal Date Description Debit Credit Jan. 1 Cash 1,008,960 Premium on Bonds Payable Bonds Payable 58,960 950,000 Jun. 30 Interest Expense Premium on Bonds Payable Cash 18,427 2,948 21,375 Jul. 1 Cash 1,729,164 70,836 Discount on Bonds Payable Bonds Payable 1,800,000 Dec. 31 Interest Expense Premium on Bonds Payable Cash 18,427 2,948 21,375 31 37,403 Interest Expense Discount on Bonds Payable Cash 5,903 31,500 31 74,257 Retained Earnings Interest Expense 74,257 DIDELI- Check My Work