Requirements 1. 2. Journalize the transactions of Lamire Communications, Inc. At December 31, 2018, after all year-end adjustments have been made, determine the carrying amount of Lamire's bonds payable, net. 3. For the six months ended July 1, 2018, determine the following for Lamire: a. Interest expense b. Cash interest paid What causes interest expense on the bonds to exceed cash interest paid? More info 2018 Jan 1 Jul 1 Dec 31 Issued $7,000,000 of 6%, 10-year bonds payable at 94. Interest payment dates are July 1 and January 1. Paid semiannual interest and amortized bond discount by the straight-line method on the 6% bonds payable. Accrued semiannual interest expense and amortized the bond discount by the straight-line method on the 6% bonds payable. 2019 Jan 2028 Jan 1 1 Paid semiannual interest. Paid the 6% bonds at maturity. Requirement. Journalize the transactions of Lamire Communications Inc. (Record debits first, then credits. Exclude explanations from any journal entries.) January 1, 2018: Issued $7,000,000 of 6%, 10-year bonds payable at 94. Interest payment dates are July 1 and January 1. Date 2018 Jan 1 Journal Entry Accounts Debit Credit January 1, 2028: Paid the bonds at maturity (ignore the interest payment at maturity). Journal Entry Date 2028 Jan 1 Accounts Debit Credit