QUESTION 1 Use the following information to answer the next 6 questions about bonds: On February 1, Olsen Products, Inc. issued at par $25 million of 9%, 10-year bonds payable. Interest is payable semiannually each February 1 and August 1. Bonds Question 1: What is the amount of cash paid to bondholders for interest during 2018? QUESTION 2 1, 2016 Bond Question 2: Prepare the adjusting entry necessary at December 31, 2018 Account Name Debit ($) Credit ($) QUESTION 3 Bond Question 3: What is the amount of interest expense on this bond reported in Olson Products 2018 Income Statement? QUESTION 4 Bond Question 4: What is the amount of bonds payable reported in Olsen Products' 2018 balance sheet? QUESTION 5 Bond Question 5: What is the amount of Interest payable reported in Olsen Products' 2018 balance sheet? QUESTION 6 Bond Question 6: Prepare the journal entry necessary to record the semiannual payment of interest to bondholders on February 1, 2019. Enter the debit for the higher dollar amount first. Account Name Debit ($) Credit ($)