Drine trache X + ent/takeAssignmentMain dolinprogress-true Show Me How ond discount, entries for bonds payable transactions Instructions Present Value Tables Chart of Accounts Journal Final Questions Instructions On July 1. Year 1, Danzer industries Inc. issued $40,000,000 of 10-year, 7% bonds at a market effective interest case of 3%, receiving cash of $37 282062 rest on the bonds paya semiannually on December 31 and June 30. The fiscal year of the company is the calendar year Required 1. Joumaze the entry to record the amount of cash proceeds from the issuance of the ponds s a. The frat ceannual interest payment on December 31, Year 1, and the amortization of the bond count using the straighthe method b. The interest payment on June 30, Year 2, and the amortization of the bond decount, vaing the straight method found th 5 Delemine the total interest expense for Year Ok Hy Work MI 4 4 " do w Next Save and Ext Sub Assignment for Grading PreSon Home End PD e Tez $ 96 A & 5 9 7 8 9 Ban