The work of which scientist was largely ignored during his lifetime?

Answer and Explanation:

a. The Journal entry is shown below:-

1. Cash Dr, $32,433,150  

     To Premium on Bonds Payable $2,433,150  

      To Bonds Payable $30,000,000

(Being Sale of bonds is recorded)

2. Interest Expense Dr, $1,297,326

($32,433,150 × 4%)  

Premium on Bonds Payable Dr, $202,674  

   To Cash $1,500,000

($30,000,000 × 5%)

(Being First semiannual interest payment, including amortization of premium is recorded)

3. Interest Expense Dr, $1,289,219

($32,433,150 - $202,674) × 4%

Premium on Bonds Payable Dr, $210,781

      To Cash $1,500,000

(Being second semiannual interest payment, including amortization of premium is recorded)

($30,000,000 × 5%)

b. Annual interest paid             $3,000,000  

Less: Premium amortized          $364,094

($202,674 + $161,420)

Interest expense for first year    $2,635,906