Question 3 1 pts Queen City Rentals issued 10%, 20-year bonds with a par value of $600,000 that pay interest semiannually. The market rate on the date of issuance was 10%. The journal entry to record the bond issuance is: O Debit Bonds Payable $600,000; Credit Cash $600,000 O Debit Cash $600,000; Credit Bond Interest Expense $600,000 Debit Bond Interest Expense $600,000; Credit Cash $600,000 O Debit Cash $600,000; Credit Bonds Payable $600,000 Question 4 1 pts Queen City Rentals issued 5-year, 9% bonds with a par value of $107,000. The company received $104,947 for the bonds. The bonds were issued at a discount. Using the straight-line method, the amount of interest expense for the first semiannual interest period is: $4,609.70. O $5,020.30 O $4,815.00. O $9,630.00. Question 5 1 pts Queen City Rentals issued 5-year, 7% bonds with a par value of $500,000. The market rate when the bonds were issued was 6.5%. The company received $505,000 cash for the bonds. The bonds were issued at a premium. Using the straight-line method, the amount of recorded interest expense for the first semiannual interest period is: $17,500 O $17,000 O $18,000 O $5,000 Question 2 1 pts Queen City Rentals issued 7%, 15-year bonds with a par value of $510,000 that pay interest semiannually. The market rate on the date of issuance was 7%. The bonds were issued at par value. The journal entry to record each semiannual interest payment is: Debit Bond Interest Expense $17,850; credit Cash $17,850. Debit Bond Interest Expense $460,000; credit Cash $460,000. Debit Bond Interest Expense $35,700; credit Cash $35,700. Debit Bond Interest Payable $34,000; credit Cash $34,000