Accounting for Notes Issues at a Premium The Longo Corporation issued $2 million maturity value of 8 percent coupon rate notes, with interest paid semiannually. At the time of the note issuance, equivalent risk-rated debt instruments carried a yield rate of 6 percent. The notes matured in 5 years. Calculate the proceeds that the Longo Corporation would receive from the sale of the notes. Round your answer to the nearest dollar. $ 0 X How will the notes be reported on Longo's balance sheet immediately following the sale? Round your answers to the nearest dollar. Bonds payable $ 0 x Plus: Bond Premium $ 0 x Book Value $ 0 x Calculate the interest expense on the notes for the first year. Round answers to the nearest dollar. First six months TA $ 0 x Second six months $ 0 x Calculate the book value of the notes at the end of the first year. Round answer to the nearest dollar. $ 0 X