Name: Date: Cells highlighted in green contain a drop-down arrow; select the appropriate account/response from the list. When the calculation for semiannual cash interest payment is correct, the cell will change to yellow. On January 1, 2021. Walpole Enterprises issues bonds that have a $3,400,000 par value, mature in 20 years, and an annual interest rate of 9%. The bonds pay interest semiannually on June 30 and December 31. The bonds are sold at par. 1. How much interest will Walpole pay (in cash) to the bondholders every six months? 2. Prepare journal entries to record (a) the issuance of bonds on January 1, 2021; (b) the first interest payment on June 30, 2021; and (c) the second interest payment on December 31, 2021. 3. Prepare the journal entry for issuance assuming the bonds are issued at (a) 98 and (b) 102. 1. Par (maturity) Value Semiannua I Rate Semiannua I Cash Interest Payment X 2. General Journal Debit Credit No a) Date Jan 01, 2021 b) Jun 30, 2021 c) Dec 31, 2021 3. General Journal Debit No a) Credit Date Jan 01, 2021 b) Jan 01, 2021