CON$10-1($Algo$)$ Recording and Reporting Liabilities LO$10-5$

Pool Corporation, Incorporated, sells swimming pool supplies and equipment. It is a publicly traded corporation that trades on the NASDAQ exchange. The majority of Pool's customers are small, family$-$owned businesses. Assume that Pool issued bonds with a face value of $$880,000,000$ on January $1$ of this year and that the coupon rate is $6$ percent. At the time of the borrowing, the annual market rate of interest was $2$ percent. The debt matures in $9$ years, and Pool makes interest payments semiannually on June $30$ and December $31.($FV of $$1,$ PV of $$1,$ FVA of $$1,$ and PVA of $$1)($Use appropriate factor$($s$)$ from the tables provided.$)$

Required:

What was the issue price on January $1$ of this year?

What amount of interest expense should be recorded on June $30$ and December $31$ of this year?

What amount of cash interest should be paid on June $30$ and December $31$ of this year?

What is the book value of the bonds on June $30$ and December $31$ of this year?