Question: Please answer clearly as it is shown Recording Entries for Bonds Sold Between Interest Dates On May 1 of Year 1, Setup Inc. sold an

Please answer clearly as it is shown

Recording Entries for Bonds Sold Between Interest Dates On May 1 of Year 1, Setup Inc. sold an issue of 5%,$1,300 bonds dated January 1 of Year 1 to yield 5%. The bonds pay interest every June 30 and December 31 and mature December 31 of Year 5. a. Provide journal entries to be made by Setup Inc. at each of the following dates. 1. May 1 of Year 1 , bond issuance. 2. June 30 of Year 1, first interest payment. b. Indicate the amount of interest expense to be recorded in the company's income statement for the six months ended June 30 of Year 1. - Note: Round your answers to the nearest whole dollar

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