Silva, Inc issues bonds with the following information.

Silva, Inc Bond Issuance

Description Data

Par Value $20,000$

Term $4$ years

Contract Interest Rate $2\%$

Market Interest Rate $1\mathrm{.}2\%$

Issue Price $102$

Prepare the journal entry to record the issuance of one bond.

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Prepare the journal entry to record the semi annual interest payment on one bond.

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Prepare the journal entry to retire the bond.

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