Woodwick Company issues 6%, five-year bonds, on December 14, 2014, with a par value of $93,000 and semiannual interest payments.

1. Use the above straight-line bond amortization table and prepare journal entries for the following:

A) Record the issue of bonds with a par value of $93,000 cash on December 31, 2014.

B) Record the interest payment on June 30, 2015.

C) Record the interest payment on December 31, 2015.

Citywide Company issues bonds with a par value of $76,000 on their stated issue date. The bonds mature in ten years and pay 9% annual interest in semiannual payments. On the issue date, the annual market rate for the bonds is 8%.

1. What is the amount of each semiannual interest payment for these bonds?

2. How many semiannual interest payments will be made on these bonds over their life?

3. Use the interest rate given to select whether the bonds are issued at par, at a discount, or at a premium.

4. Compute the price of the bonds as of the issue date in the table. (Round intermediate calculations to the nearest whole dollar amount).

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