Vesper Corporation required financing to construct a new R&D facility. On January 1, 2023, Vesper issued $2,750,000 of 5-year bonds with a 6.5% coupon rate (payments due on June 30 and December 31). The current market rate of interest was 8%.

Required:

1. Calculate the issuance price of the bonds: _______________________
2. Prepare the journal entries to record, (1) issuance of the bonds on January 1 and (2) interest payments on June 30 and December 31, 2023 of this year.

General Journal	Debit	Credit
January 1, 2023 entry:
June 30, 2023 entry:
December 31, 2023 entry:

3. What bonds payable amount will Vesper Corporation report on its June 30, 2023 balance sheet?