Bond Premium Transactions (Alternate is 9-56.) Assume that on December 31, 20X4, Green Bay Woolens issued $10 million of 10-year, 10% debentures. Proceeds were $11,359,000; therefore, the market rate of interest was 8%. 1. By using the balance sheet equation format, prepare an analysis of transactions for Green Bay Woolens. Key your transactions as follows:

(a) issuance,

(b) first semiannual interest using effec- tive interest amortization of bond premium, and

(c) payment of maturity value. Round all amounts to the nearest thousand. 2. Prepare corresponding journal entries for (a), (b), and

(c) in requirement 1. 3. Show how the bond-related accounts would appear on Green Bay Woolens' balance sheets as of December 31, 20X4 and June 30, 20X5. Assume that the semiannual interest payment and amor- tization have been recorded.