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On 1/1/2020, SF issued bonds with $50,000 face value and 5% coupon rate. Effective interest rate...

On 1/1/2020, SF issued bonds with $50,000 face value and 5% coupon rate. Effective interest rate is 4%. The bonds mature on 12/31/2023. Coupon will be paid semiannually on June 30 and December 31. What amount of interest payable should SF report in its 3/31/2020 balance sheet? Also, prepare a journal entry for the interest payable on 3/31/2020.

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