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2. Ryan Corporation sold and issued $30,000, 4-year, 8% annual coupon interest rate bonds dated January...

2. Ryan Corporation sold and issued $30,000, 4-year, 8% annual coupon interest rate bonds dated January 1, 19X1, on April 1, 19X1. The bonds pay interest semiannually on June 30 and December 31. The effective market annual rate was 10%. Ryan's year-end is December 31.

Calculate the cash issue price on April 1, and record the journal entries for the first 2 interest periods.

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