Viking Voyager specializes in the design and production of replica Viking boats. On January 1,2012 , the company issues $2,000,000 of 8% bonds, due in 10 years , with interest payable semiannually on June 30 and December 31 each year.

1. If the markt interest rate is 8% , the bonds will issue at $2,000,000. Record(journal entries) the bond issue on January 1, 2012, and the first two semiannual interest payments on June 30 ,2012 and December 31,2012.

2. If the market interest rate is 9% , the bonds will issue at $1,869,921. Record (journal entries) the bond issue on January 1,2012 , and the first two semiannual interest payments on June 30 ,2012 and December 21,2012.

3. If the market interest rate is 7%, the bonds will issue at $2,142,124. Record (journal entries) the bond issue on Janaury 1, 2012 and the first two semiannual interest payments on June 30, 2012 and Decmeber 31 ,2012.