Exercise 14-32 (Algo) Accrued interest (Appendix 14B] On March 1, 2021, Brown-Ferring Corporation issued $101.2 million of 15% bonds, dated January 1, 2021, for $97 million (plus accrued interest). The bonds mature on December 31, 2040, and pay interest semiannually on June 30 and December 31. Brown-Ferring's fiscal period is the calendar year. Required: 1. Determine the amount of accrued interest that was included in the proceeds received from the bond sale. 2. Prepare the journal entry for the issuance of the bonds by Brown-Ferring. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entry for the issuance of the bonds by Brown-Ferring. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions and round to 2 decimal places (i.e., 5,500,000 should be entered as 5.50)). View transaction list View journal entry worksheet No Event General Journal Debit Credit 1 1 Cash Discount on bonds payable Bonds payable Interest payable 101.20 2.20