please answer On January 1, Boston Enterprises issues bonds that have a $3,400,000 par value, mature in 20 years, and pay 9% interestsemiannually on June 30 and December 31. The bonds are sold at par.1. How much interest will the issuer pay (in cash) to the bondholders every six months?2. Prepare journal entries to record (a) the issuance of bonds on January 1, (b) the first interest payment on June 30, and (c) the secondinterest payment on December 31.3. Prepare the journal entry for issuance assuming the bonds are issued at (a) 98 and (b) 102.Complete this question by entering your answers in the tabs below.Required 1 Required 2 Required 3Prepare the journal entry for issuance assuming the bonds are issued at (a) 98 and (b) 102.View transaction listJournal entry worksheet<12Record the issue of bonds at 98.Note: Enter debits before credits.DateJanuary 01General JournalDebitCredit> On January 1, Boston Enterprises issues bonds that have a $3,400,000 par value, mature in 20 years, and pay 9% interestsemiannually on June 30 and December 31. The bonds are sold at par.1. How much interest will the issuer pay (in cash) to the bondholders every six months?2. Prepare journal entries to record (a) the issuance of bonds on January 1, (b) the first interest payment on June 30, and (c) the secondinterest payment on December 31.3. Prepare the journal entry for issuance assuming the bonds are issued at (a) 98 and (b) 102.Complete this question by entering your answers in the tabs below.Required 1 Required 2 Required 3Prepare journal entries to record (a) the issuance of bonds on January 1, (b) the first interest payment on June 30, and (c) the secondinterest payment on December 31.View transaction listJournal entry worksheet123Record the issue of bonds at par on January 1.DateJanuary 01Note: Enter debits before credits.General JournalDebitCredit>

Bonds are borrowing security issued by a company to raise funds from the market by making an agreement to repay the sum at maturity with periodic interest on it.1. Calculation of semiannually interest expense: Semiannual interest expense=Bond value×Interest rate×Period=$3,400,000×9%×612=$153,000 Hence, the semiannual interest expense in cash is $153,000. 2. Preparation of journal entries:3. Preparation of journal entries for the issuance of bonds at a different costs: