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Splish inc, a private company following ASPE issued $180000, 5-year bond on January 1, 2024 paying 8% interest on a semi-annual basis every January 1

Splish inc, a private company following ASPE issued $180000, 5-year bond on January 1, 2024 paying 8% interest on a semi-annual basis every January 1 and july 1. Prepare the first year journal entries for the bond issue and interest expense assuming the company uses the straight-line method, a market interest rate of 9% and has a year-end of 31 December 2024

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