QS 10-4 Recording bond issuance and interest LO P1, P2, P3

On January 1, Renewable Energy issues bonds that have a $24,000 par value, mature in four years, and pay 11% interest semiannually on June 30 and December 31.

1. Prepare the journal entry for issuance assuming the bonds are issued at (a) 99 and (b) 103.

2. How much interest does the company pay (in cash) to its bondholders every six months if the bonds are sold at par?

Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entry for issuance assuming the bonds are issued at (a) 99 and (b) 1032. No Date General Journal Debit Credit 1 Jan 01 23,760 Cash Discount on bonds payable Bonds payable 240 24,000 X Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 How much interest does the company pay (in cash) to its bondholders every six months if the bonds are sold at par? Semiannual cash interest payment $ 1,320