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15 Required Compute the cash proceeds from bond issues under the following terms. For each case, indicate whether the bonds sold at a premium or discount Cash Proceeds Discount or Premium a. Pear, Inc. issued $400,000 of 10-year, 8 percent bonds at 103 b. Apple, Inc. issued $200,000 of five-year, 12 percent bonds at 97 1/2 c. Cherry Co, issued $100,000 of five-year, 6 percent bonds at 102 1/4 d. Grape, Inc. issued $120,000 of four-year, 8 percent bonds at 96 Hook ences 17 Required For each of the following situations, calculate the amount of bond discount or premium, if any. (Do not round your intermediate calculations.) 2 points & Gray Co. issued $80,000 of 6 percent bonds at 101 1/4 b. Bush, Inc. issued $200,000 of 10-year, 6 percent bonds at 97 1/2. Oak, Inc. issued $100,000 of 20-year, 6 percent bonds at 103 d. Willow Co. issued $180,000 of 15-year, 7 percent bonds at 99. eBook Ask References 18 On January 1 Yeart, Sayers Company issued $280,000 of five-year 6 percent bonds at 102. Interest is payable semiannually on June 30 and December 31. The premium is amortized using the straight-line method. Required Prepare the journal entries to record the bond transactions for Year 1 and Year 2. (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 3.5 points View transaction list eBook Journal entry worksheet