2. Explain how the issue price would have been affected if the market rate of interest had been higher than 8% . 3. Prepare the journal entry to record the payment of interest on July 1,2016 . How does this entry affect the accounting ed Indicate the effect on financial statement items by selecting "-" for decrease (or negative effect), "+" for increase (or positiv 4. Calculate the amount of interest accrued on December 31,2016 . If required, round your answer to the nearest dollar