2. Bonds (50 marks) Delhi Corporation issues bonds with a face value of $50 million and an annual interest rate of 4.5%, paid semi annually on June 30 and December 31, and will reach maturity on December 31, 2030. On January 1, 2020, the bonds were issued at 96.1 to yield 5%. Required: a) Calculate the proceeds on issuance of the bonds. Round your calculation to the nearest ten thousand b) Complete the bond amortization table from Jan 1, 2020 to Dec 31, 2020. Interest Interest Expense Discount Discount Payment (Carrying Amortization Balance (SOMX4.5%/2) values%/2) difference (Previous / between minus Interest expense amortization) and interest payment Jan 1, 2020 June 30, 2020 Dec 31, 2020 Bonds Carrying Amount (Previous plus Amortization c) Record the issuance of bonds on Jan 1, 2020 Date Accounts January 1, 2020 Debit Credit d) Show the journal entry the interest payment and expense on Jun 30, 2020 Date Accounts Debit June 30, 2020 Credit e) What is the amount of Bond Payable reported on the Balance Sheet on Dec 31, 2020? Bonds payable Less: discount on bonds payable Bonds carrying amount