Book Print Item Bond discount, entries for bonds payable transactions, Interest method of amortizing bond discount Instructions Chart of Accounts Journal Final Question Instructions On July 1, 2011, Danzer Industries Inc. issued $40,000,000 of 10-year, 7% bonds at a market (eflective) interest rate of 8%, receiving cash of $37 282,062. Interest on the bonds payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year, Required: 1. Journalize the entry to record the amount of cash proceeds from the issuance of the bonds. 2 Journalize the entries to record the following: a. The first semiannual interest payment on December 31, 2011, and the amortization of the band discount, using the interest method (Round to the nearest dollar) b. The interest payment on June 30, 2012, and the amortization of the bond discount, using the interest method. Round to the nearest dolar) 3. Determine the total interest expense for 2011 *Refer to the Chart of Accounts for exact wording of account Witles. Check My Work 3 more Check My Work uses remaining for Grading Sand Instructions Journal 1. and 2. Journalize the entries to record the transactions. Round to the nearest dollar Refer to the Chart of Accounts for exact wording of account bine. JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF DENT CREDIT ASSETS LIABILITIES 1 2 5 & 1 Previous Ne Check My Work 3 more Check My Work uses remaining Save and Submit A for All work saved Journal PAGE 10 ACCOUNTING EQLIATION JOURNAL CREDIT LIABILITIES ASSETS POST REF DATE DESCRIPTION DET 1 1 1 Previous Ne Check My Work 3 more Check My Work uses remaining Sumitrument for Grade All work saved ELANKSHEET Bond discount, entries for bonds payable transactions, interest method of amortizing bond Instructions Chart of Accounts Journal Final Question L.BLANKSHEET A.BLANKSHEET Instructions Journal Final Question A.BLANKSHEET 1. Chart of Account A.BLANKSHEET 3. Determine the total interest expense for 2011. S SA.BLANKSHEET DEBIT 1 3 Check My Work more Check My Work uses remaining ogress 6/7 items