How countries for Bonds Payable That On July 1, 2011. nonton comeration, a wholesaler of manufacturing equipment, sed 53.100.000 of 7-bonds at a market effective)terest rate of 11% recich of the on December 31 and lun 10. The calvear of the company is the calendar ve Required: For all journal entries, tant bere does not require an entry, leave it blank 1. Journalize the entry to record the amount of cash proceeds from the issuance of the bonds on Suly 1, 2011 Cash Discount on blondable fonds Povable Te Bonds blew way micorded at tace value. Any difference in se price is reflected in a premium or into 2. Joure the cities to record the fobrino The first semiannualet avront on December 31, 2011, and the amortization of the band discount, using the train the round to the nearest Interest V Discount onds ayahla 110 The Interest payment on June 30, 2012, and the amortization of the bond discount, using the straight-line method Hound to the newest dollar Interest Expense Discount.com Bonds Payable Cash lll 110 wy w the straight loe method of amortization provides equal amounts of amortization over these of the bond 3. Determine the total interest expense for 2011. Round to the nearest dollar 4. Will the bond proceeds always be less than the face amount of the bonds when the contrate than the market rate of it? Yes 5. Compute the price $2.502.723 received for the bonds by using the present value tables in Ape A Round your PV values to decimal aces and the laws to the name due te rounding differences Fyen value of the face amount Present value of the manual interest games Prece ved for the bends