aloritz f. Assume that Wolverine retires the bonds on July 1, 2017 at a price of 108. Make Wolverine's journal entry to record this retirement. Date Account Title (E) To bus adt is gribastati Debit Credit e. Assume NARDO Company purchased all of Wolverine's bonds on January 1, 2017 (bond NARDO's journal entry on June 30, 2017 when it received the first coupon payment from O issuance date) and planned on holding them for the entire 10 years of the bonds' life. Make Wolverine. Date Account Title Debit Credit QUESTION 7: BONDS (18 points) On January 1, 2017, Wolverine, Inc. issued bonds with a face value of $1,000,000 and a coupon rate of 10%. The market interest rate is 6% on these bonds. The bonds mature in 10 years. Interest is paid semi-annually on June 30 and December 31 of each year. Wolverine has a December 31 fiscal year-end. a. How much proceeds Wolverine would receive from issuing the bond? Round your answer to the nearest dollar. Answer: 87528 b. Make Wolverine's journal entry to record the bond issuance on January 1, 2017. Date Account Title Debit Credit