Question 47 The next 8 questions are based upon the following fact pattern. Answer them individually and round to the nearest dollar. The Dallas Company issues 6%, 5 year bonds with a par value of $800,000 and semiannual interest payments On the issue date, January 1, 2020, the annual market rate of interest is 8%. The company pays interest on June 30 and December 31. The company uses the effective interest method of amortization Prepare the journal entry to record interest expense on December 31, 2020, Edit View Insere Format Tools Table 12 Paragraph U 9 21