Amount of cash received 1. At 7%, the market or yield rate equals the bond contract rate. Therefore, the full face value ($212,000,000) will be received il Issued at 95.542 (or 95,542% of face value) Cash received = $212,000,000 x 0.95542 = $202,549,040 Til Issued with a $10,070,000 premium Cash received $212,000,000+ $10,070,000 $222,070,000 Prepare the journal entry Cansat would record at the time of the issuance of the bonds under each of the alternatives. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Debit Credit No. Account Titles and Explanation i. il ill