Bonds Issued at Par On December 31, 2003, Clay Computers issued $30 million of 5-year, 10% debentures at par. 1. Compute the proceeds from issuing the debentures. 2. Using the balance sheet equation format, prepare an analysis of this bond transaction. Show entries for the issuer concerning

(a) issuance,

(b) first semiannual interest payment, and

(c) pay- ment of maturity value. 3. Show all the corresponding journal entries keyed as in requirement 2. 4. Show how the bond-related accounts would appear on the balance sheet as of December 31, 2003 and June 30, 2004. Assume that the semiannual interest payment due on the balance sheet date has been recorded.