(CP12-47 (open response) Question Help Calla Canoe Company is considering raising additional capital for further expansion. The company wants to finance a new business venture into guided trips down the Amazon River in South America. Additionally, the company wants to add another building on their land to offer more services for local customers. iClick the icon to viewing the financing information.) Read the requirements. Requirement 1. Will the bonds issue at face value, a premium, or a discount? Calla Canoe's bonds will be issued at a discount because the cash proceeds are less than the face value of the bonds. Requirement 2. Record the following transactions. Include dates and round to the nearest dollar. Omit explanations. (Round your answers to the nearest whole dollar. Record debits first, then credits. Exclude explanations from any journal entries. Check your spelling carefully and do not abbreviate.) a. Cash received from the bond issue. Credit Date Accounts Debit 2020 Jan. 2 Enter any number in the edit fields and then click Check Answer. i More Info Calla Canoe Company plans to raise the capital by issuing $1,000,000 of 10%, five-year bonds on January 2, 2020. The bonds pay interest semiannually on June 30 and December 31. The company receives $998,400 when the bonds are issued The company also issues a mortgage payable for $300,000 on January 2, 2020. The proceeds from the mortgage will be used to construct the new building. The mortgage requires annual payments of $30,000 plus interest for ten years, payable on December 31. The mortgage interest rate is 10% Print Done