r Bonds (Straight Line) 30 and December 31 Exercise 9-70 Interest Payments and Interest Expense To Swiss Inc. sold 15-year bonds with a total face amount of $2,000,000 and a st sold for $2,090,000 on January 1, 2020, and pay interest semi-annually on June (Could also be stated as the bonds sold for 104.5) Required %. The bonds stated rate of 6 1. Prepare the entry to recognize the sale of the bonds 2. Determine the amount of the semi-annual interest payment required by the bonds 3. Prepare the journal entry made by Swiss at June 30, 2020, to recog nize the interest expense and an interest payment. Determine the amount of interest expense for 2020. What is the carrying value of the bond at December 31, 2020? 4. 5. 6. Prepare the journal entry on January 1, 2035 to pay off the bond at maturity Exercise 9-72 Interest De