Calculator Exercise 9-70 (Algorithmic) Interest Payments and Interest Expense for Bonds (Straight Line) Kla ath Manufacturing sold 20-year bonds with a total face amount of $416,000 and a stated rate of 7,5%, The bonds sold for $440,000 on January 1, 2020, and pay interest semiannually on June 30 and December 31 Required 1. Prepare the entry to recognize the sale of the bonds 2020 Jan. 1 (Record issuance of bonds at premium.) 2. Determine the amount of the semiannual cash interest payment required by the bonds. Round your answer to the nearest whole dollar, if required. 3. Prepare the journal entry made by Klamath at June 30, 2020, to the nearest whole dollar, if required. recognize the interest expense and an interest payment. Round your answers to 2020 June 30 (Record interest expense.) Check My Work 3 more Check My Work uses remaining Pre Next 411/2019