On January 1, 2017, when the current market interest rate was 8%, Waveland Corporation issued $120,000,000, 5-year bonds. The bonds pay an annual coupon rate of 10%. Interest payments are made semi-annually on June 30th and December 31st REQUIRED: a. At what price should this bond offering sell? b. Create a table showing the amortized premium or discount the first three years of the bonds. c. Prepare the journal entry on the date of the bond issuance. d. Prepare the first two semiannual interest payment journal entries. BOND AMORTIZATION WORKSHEET (STRAIGHT-LINE METHOD) NECESSARY BOND FACTS: Face Amount: 1st Interest Pmt Date: Annual OR Semi-Annual? Issue Price/Amount/%: ?? Bond Term: Discount/Prem Amount: Stated Interest Rate: Issue Date: Market Interest Rate: Interest Pmt *Use Face Amt & Stated Rate Interest Exp *Us v & Market Rate Dischtrem Amgrtization New Carrying Value (CV) Discn Prem Bal Journal Entries Date Account Name Debit redit