uos ae nhot required. 38A Determining the present value of bonds payable and ournalizing using the effective-interest amortization method Learning objectives 7, 8 Appendixes 14A, 14B Relaxation, Inc. is authorized to issue 7%, 10-year bonds payable. On January 1, 2018, when the market interest rate is 12%, the company issues $300,000 of the bonds. The bonds pay interest semiannually. Requirements 1. How much cash did 3. Jan. 1, 2018, Cash $214,035 the company receive upon issuance of the bonds payable? Round to the nearest dollar.) through the first two interest payments. (Round to the nearest dollar.) payments of the semiannual interest amount and amortization of the bonds on 2. Prepare an amortization table for the bond using the effective-interest method, 3. Journalize the issuance of the bonds on January 1, 2018, and the first and second June 30, 2018, and December 31, 2018. Explanations are not required