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Federal Semiconductors issued 11% bonds, dated January 1, with a face amount of $800 million on January 1, 2024. - The bonds sold for $739,813,200

image text in transcribed Federal Semiconductors issued 11\% bonds, dated January 1, with a face amount of $800 million on January 1, 2024. - The bonds sold for $739,813,200 and mature on December 31, 2043 (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 entries to record their issuance by Federal on January 1, 2024, interest on June 30,2024 (at the effective rate) and interest on December 31, 2024 (at the effective rate). 4. At what amount will Federal report the bonds among its liabilities in the December 31, 2024, balance sheet? Complete this question by entering your answers in the tabs below. Prepare the journal entries to record their issuance by Federal on January 1,2024, interest on June 30, 2024 and interest on December 31,2024 (at the effective rate). Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to the nearest whole dollar

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