. i Data Table Long-term Liabilities: Bonds Payable Less: Discount on Bonds Payable $ 700,000 (112,000) 588,000 Print Done - X i Requirements 1. Answer the following questions about Baxter's bonds payable: a. What is the maturity value of the bonds? b. What is the carrying amount of the bonds at December 31, 2020? C. What is the semiannual cash interest payment on the bonds? d. How much interest expense should the company record each year? 2. Record the June 30, 2020, semiannual interest payment and amortization of discount. Print Done This Question: 5 pts 20 of 29 (0 complete) Baxter's pays semiannual interest each June 30 and December 31. (Assume bonds payable are amortized using the straight-line amortization method.) Baxter's Hamburgers issued 5%, 10-year bonds payable at 80 on December 31, 2018. At December 31, 2020, Baxter reported the bonds payable as follows: (Click the icon to view the bonds payable.) Read the requirements Requirement 1. Answer the following questions about Baxter's bonds payable: a. What is the maturity value of the bonds? b. What is the carrying amount of the bonds at December 31, 2020? c. What is the semiannual cash interest payment on the bonds? d. How much interest expense should the company record each year? Requirement 2. Record the June 30, 2020, semiannual interest payment and amortization of discount. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit 2020 Jun. 30