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On January 1,2008 Halston Enterprises issued 8%, 20-year bonds with a face amount of $3,000,000...

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Accounting

On January 1,2008 Halston Enterprises issued 8%, 20-year bonds with a face amount of $3,000,000 at ? Interest is payable semiannually on June 30th and December 31st. Effective rate is 12% Prepare the entries to record the issuance of bonds and the first semiannual interest payment assuming that the company uses straightline amoritization

**Please be thorough in how you get the amounts**

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