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Bond premium, entries for bonds payable transactions Present Value Tables Chart of Accounts Journal Final Questions Instructions Saverin Inc. produces and sells ou door equipment. On July 1, 2016 averin lnc issued S60 400 000 of 10-year, 12% bonds at a market etective interest rate of 11 % receiving cash of $84,009,069. interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year. Required: 1. Journalize the entry to record the amount of cash proceeds from the issuance of the bonds on July 1, 2016. 2. Jounalize the entries to record the fallowing* a. The first semiannual interest payment on December 31, 2016, and the amortization of the bond premium, using the straight-line method Round to the nearest dollar.) b. The interest payment on June 30, 2017, and the amortization of the bond premvium, using the straight-ine method. (Round to the nearest dolar) 3. Deternine the total interest expense for 2016 WW the bond proceeds always be greater than the face amount of the bonds when the contract rate is greater than the market rate of interest? 5. Compute the price of $64,008,069 received for the bonds by using the tables shown in Present Value Tables. (Round to the nearest dolar) Be sure to include the year in the date for the entries. Refer to the Chart of Accounts for exact wording of account les