Band Discount, Entries for Bonds Payable Transactions market effective interest rate of 12 receiving cash of 95,761. Interest on the bands is payable On July 1, 2011, Lington Corporation, a wholesaler of manufacturing equipment, issued $8,400,000 of 6 year, 10% bonds semiannually on December 31 and June 30. The fiscal year of the company is the calendar year Required: For all journal entries, an amount box does not require an entry leave it blank 1. Journalize the entry to record the amount of cash proceeds from the issuance of the bonds on May 1, 2011 2. Jouw the entries to record the following The first line payment on December 31, 201, and the amortization of nath Round to the r est do Ther o 2012 and the motion of the bond discount, using the right 3. Determine the response for 2011. Round to the nearest della is less than w the band w of the bonds when the contract e than the face 5. Compute the price 37.695,761 received for th is by using the presenta ties in A 3. Determine the total interest expense for 2011. Round to the nearest dollar 4. Will the bond proceeds as beless than the face amount of the bonds when the contract e s than the matters 5. Compute the price of 37.605,761 received for the band busing the rest valuable in A due to differences Round your past decimales Present value of the manual payments Price received for the bonds