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Sunset Drive-Ins Lta. berrowed money by issuing $4,500,000 of 6% bonds payable at 92.5 on July 1,2021 . The bonds ace 10 -year bonds and

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Sunset Drive-Ins Lta. berrowed money by issuing $4,500,000 of 6% bonds payable at 92.5 on July 1,2021 . The bonds ace 10 -year bonds and poy inferest esch Jaruary 1 and JVy 1 . Rend the requirements: 1. How much cash did Sunset recolve when is issued the bonds payable? Joumalue this transaction When the bonds payable were issued, sunset received Requirements 1. How much cash did 5unset receive when it issued the bonds payabie? Journalize this transaction. 2. Haw much must sunset pay back at maturity? Whan is the masurity dase? 3. How much cash interest wal surset pay each six months? 4. How much interest expente will Sunset report each six months? Use the straight-line amorization method. Joumalze the entries for the accrual of interest and amortization of discount on December 31, 2021, and the payment of interest on danuary 1, 2022

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