Bond Premium, Entries for Bonds Payable Transactions Rodgers Corporation produces and sells football equipment. On July 1, 2011, Rodgers issued $80,800,000 of 10-year, 10% bonds at a market (effective interest rate of 8%, receiving cash of $91,781,245. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year Required: 2. Joumalize the entries to record the following: a. The first semiannual interest payment on December 31, 2011, and the amortization of the bond premium, using the straight-line method. Round to the nearest dollar. Interest Expense Premium on Bonds Payable Cash OD b. The interest payment on June 30, 2042, and the amortization of the bond premium, using the straight-line method. Round to the nearest dollar Interest Expense Premium on Bonds Payable 100 Cash 5. Compute the price of $91,781,245 received for the bonds by using the present value tables in Appendix A. Round your PU values to decimal places and the final answers to the nearest dollar, Your total may vary slightly from the price given due to rounding differences Present value of the face amount Present value of the semi-annual interest payments Price received for the bonds 3. Determine the total interest expense for 20Y1. Round to the nearest dollar 4 Will the bond proceeds always be greater than the face amount of the bonds when the contract rate