Question: Problem 3 (E9-7) On January 1, 2021, Splash City issues $500,000 of 9% bonds, due in 20years, with interest payable semiannually on June 30 and

Problem 3 (E9-7) On January 1, 2021, Splash City issues $500,000 of 9% bonds, due in 20years, with interest payable semiannually on June 30 and December 31 each year. Required: Assume the market interest rate on the issue date is 9%, the bonds will issue at $500,000. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021 and December 31, 2021. Problem 4 (E9-8) On January 1, 2021, Splash City issues $500,000 of 9% bonds, due in 20years, with interest payable semiannually on June 30 and December 31 each year. Required: Assume the market interest rate on the issue date is 10%, the bonds will issue at $457,102. 1. Complete the first two rows on an amortization schedule. 2. Record the bond issue on Jan 1, 2021, and the first two semiannual interest payments on June 30, 2021 and December 31, 2021

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