3 Cansat, a Crown corporation owned by the government, issued bonds to finance the construction of the next generation of 4 observation satellites. On January 1, 2024, Cansat issued 7%, 15-year bonds with a face value of $200 million. The bonds will pay S interest semi-annually on June 30 and December 31. 6 7 8 Required a) Calculate the amount of cash Cansat will receive if the bonds are sold under each of the following bond alternatives: 9 10 11 i. 7% (issued at par): 12 13 14 15 16 ii. Issued at a price of 95.542 to yield 7.5% (or 95.542 % of face value): 17 18 19 20 21 iii. Issued at a premium in the amount of $9,500,000 and first interest payment of $6,808,750 22 23 24 2225 26 27 28 29 b) Prepare the journal entry Cansat would record at the time of the issuance of the bonds under each of the alternatives. Date: Account Debit Credit b) Prepare the journal entry Cansat would record at the time of the issuance of the bonds under each of the alternatives. 26 27 28 Date 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 Account c) Prepare the journal entries to record the first interest expense for alternatives (i), (ii), and (iii) above. Date: Account Debit Debit Credit Credit