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Federal Semiconductors issued 11% bonds, dated January 1, with a foce amount of $880 million on January 1, 2018. The bonds sold for $813,794,520 and

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Federal Semiconductors issued 11% bonds, dated January 1, with a foce amount of $880 million on January 1, 2018. The bonds sold for $813,794,520 and mature on December 31, 2037 (20 years). For bonds of similar risk and maturity the market yield was 12%. Interest is paid semiannually on June 30 and December 31. Required: 1. to 3. Prepare the journal entry to record their issuance by Federal on January 1, 2018, Interest on June 30, 2018 at the effective rate) and interest on December 31, 2018 (at the effective rate) 4. At what amount will Federal report the bonds among its liabilities in the December 31, 2018, balance sheet? Prepare the journal entry to record their issuance by Federal on January 1, 2018, interest on June 30, 2018 at the effective rate) and interest on December 31, 2018 at the effective rate). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) View transaction list 1 Record the issuance of the bond on January 1, 2018 2 Record the interest on June 30, 2018 at the effective rate), 3 Record the interest on December 31, 2018 (at the effective rate) Credit Note: journal entry has been entered Record entry Clear entry View general journal Reg 1 to 3 Reg 4 At what amount will Federal report the bonds among answers in whole dollars) alance sheet? (Enter your ParodEnd Bond Interest Cash Interest Paid Discount Amortization Carrying Value 01/01/2018 06/30/2018 12/31/2018 Reg 1 to 3

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