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Could I get 5 and 6? in January 1, 2024, Mania Enterprises issued 12% bonds dated January 1, 2024, with a face mount of $20

Could I get 5 and 6? image text in transcribed
in January 1, 2024, Mania Enterprises issued 12% bonds dated January 1, 2024, with a face mount of $20 million. The bonds mature in 2033 (10 years). For bonds of similar risk and naturity, the market yield is 10%. Interest is paid semiannually on June 30 and December 31. Note: For all requirements, Round your intermediate calculations to the nearest whole dollar. Required: 1. Determine the price of the bonds on January 1,2024. 2. Prepare the journal entry to record the bond issuance by Mania on January 1, 2024. 3. Prepare the journal entry to record interest on June 30,2024 , using the effective interest method. 4. Prepare the journal entry to record interest on December 31, 2024, using the effective interest method. 5. What is the liability reported on the balance sheet at December 31,2024. 6. What is the total interest expense over the life of the bond

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