2. if the market interest rate is 7%, the bonds will issue at $418,022. record the bond issue on january 1, 2021, and the first two semiannual interest payments on june 30, 2021, and december 31, 2021. (if no entry is required for a particular transaction/event, select "no journal entry required" in the first account field. round your answers to the nearest dollar amount.)

The journal entries are as follows:

(a) On January 1, 2021

Cash A/c    Dr. $418,022

To Bonds payable            $418,022

(To record the issue of bond)

(b) On June 30, 2021

Interest expense A/c [$418,022 × 7%/2]    Dr. $14,630.77

To cash                                                                                  $14,630.77

(To record the first two semiannual interest payments)

(c) On December 31, 2021

Interest expense A/c    Dr. $14,630.77

To cash                                                         $14,630.77

(To record the first two semiannual interest payments)

if i need to borrow money for anything, it would be for something like a house or an apartment but, that depend on the situation.

is this good enough?

wheres the chart? so i can answer.