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3. Harpo Co. sold $50 million of 10-year bonds on December 31, 2021, with interest payable June 30 and December 31 at an annual rate

image text in transcribed 3. Harpo Co. sold \$50 million of 10-year bonds on December 31, 2021, with interest payable June 30 and December 31 at an annual rate of 9%. The bonds were priced to yield an effective rate of 10%. a. What were the proceeds received by Harpo upon the sale of the bonds? b. Prepare the entry made by Harpo to record the sale of the bonds on December 31, 2021. c. What is the total dollar amount of interest payments to be made by Harpo over the life of the bonds? d. What is the total dollar amount of interest expense that Harpo will record over the life of the bonds? e. What will be the net book value of the bonds at December 31,2025, after the company makes the eighth semiannual cash interest payment? f. Prepare the entry to record the ninth semiannual payment on June 30, 2026

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