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Myriad Solutions, Inc. issued 12% bonds, dated January 1, with a face amount of $490 million on January 1, 2021, for $438,089,694. The bonds mature

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Myriad Solutions, Inc. issued 12% bonds, dated January 1, with a face amount of $490 million on January 1, 2021, for $438,089,694. The bonds mature on December 31, 2030 (10 years). For bonds of similar risk and maturity the market yield is 14%. Interest is paid semiannually on June 30 and December 31 Required: Calculate the amounts related to the bonds that Myriad would report in its financial statements. (Round your answers to the nearest whole dollar.) Net liability Financing Federal Semiconductors issued 10% bonds, dated January 1, with a face amount of $820 million on January 1, 2021. The bonds sold for $754,208,120 and mature on December 31, 2040 (20 years). For bonds of similar risk and maturity the market yield was 11%. 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, 2021, interest on June 30, 2021 (at the effective rate) and interest on December 31, 2021 (at the effective rate). 4. At what amount will Federal report the bonds among its liabilities in the December 31, 2021, balance sheet

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