Ederal Serriconductors issued $8\%$ bonds, dated January $1,$ with a lace amount of $$740$ million on January $1,2024$

The bonds sold for $$67,914,968$ and mature on December $31,2043(20$ years$).$

For bonds of similar risk and maturity the market yleld was $9\%.$

Interest is psid semarnnually on June $30$ and December $31.$

Pequired:

$7$o $3.$ Prepare the joumal entries to record their issuance by Federal on January $1,2024,$ interest on June $30,2024($at the effective Tated and triterest on December $31,2024($at the effective rate$).$

At what amount will Federal report the bonds among its liabilties in the December $31,2024,$ balance sheet?