On July ,2012 Hallo Corporation , a wholesaler of communication equipment, issued $34,000,000.00 of 20year, 12% bonds at a market (effective) interest rate of 13%, receiving cash of $31,595,241.00 interest on the bonds is payable semiannually on decemeber 31 and june 30. the fiscal year of the company is the calendar year. Journalize the first semiannually interest payment on dec 31 and the amortization of the bond .
