Band Discount, Entries for Bonds Payable Transactions On July 1, 2041, Livingston Corporation, a wholesaler of manufacturing equipment, issued 56 700,000 of 9-year 10% bonde at a market (effective) Interest rate of 12%, receiving cash of $5,974,524. Interest on the bonds is payable semiannually on December 31 and June 30. The riscal year or the company sue calendar year. Required: For all journal entries, if 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 Bonus on July 2011! Cash Discount on Bonds Payable Bonds Payable 2. Journalize the entries to record the following: a. The first semiannual interest payment on December 31, 2041, and the motion We und wound us the straighine method. Round to the nearest dollar Interest Expense Discount on Bonds Payable Cash b. The Interest Wayntent on June 30, 2012. and le altortization in the end Liscount on the straight line met. Round lachenarmat collar Interest Expense Discount on Bonds Payable Cash 3. Debemine the total interest expense lor 2011. Round is the nearest della 4. Willie band proceeds always be less the race arount of the worlds When the casual master bensiz Yes 5. Compute the price of $5.974,524 juce ved for the boods by using the present Value Lalles Map Rounu vuur bv values to decimal place at the Malattswers to Die Hearest dlat. Your tolal may vary sligi rollience given due tu rounding differences Piset value of the lace amount Present value of these anal interest yours Price tedelved for the bunds