journal entries

On August 1, 2024, Oriole Corporation issued $128.8 million in 5.0% bonds, with interest payable on January 31 and July 31 each year. The market yield rate for these bonds on the date of issuance was 4.7% and they were issued at 102.37. The bonds had a maturity date of April 1, 2034. The company's fiscal year end is July 31. (a) Your answer is correct. Calculate the cash proceeds from the issuance of these bonds. Cash proceeds $ eTextbook and Media List of Accounts Attempts: 1 of 2 used Prepare the journal entry made by the company on issuance. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry.) \begin{tabular}{|llr|} \multicolumn{1}{c}{ Date } & Account Titles and Explanation & Debit \\ \hline August 1,2024 Cash & \\ \hline Notes Payable & 131,852,560 \\ \hline \end{tabular} eTextbook and Media List of Accounts Assistance Used Attempts: 2 of 2 used (c) Provide the journal entries to record the first two interest payments. Ignore year-end accruals of interest. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to O decimal places, e.g. 5,275. List all debit entries before credit entries. Record journal entries in the order presented in the problem.) List of Accounts Assistance Used Cash Crushing Equipment Deferred Income Tax Asset/Liability Deferred Tax Asset Income Tax Expense Income Taxes Payable Interest Expense Interest Payable Lease Liability Lease Obligation Lease Payment Long-Term Loan Payable Mortgage Payable No Entry Notes Payable Right-of-Use-Asset