Nicholas Rausch issued $300 000 of 11%, 10-year debentures at a price of 106.2410 on 31 May 2016. The market interest rate at the date of issue was 10% and the debentures pay interest half-yearly. Requirements 1 How much cash did Rausch receive upon the issue of the debentures? 2 Prepare an effective interest amortisation table for the debenture premium for the first two Interest payments. Use Exhibit 12A-2 as a guide, and round amounts to the nearest dollar. 3 Journalise the issue of the debentures on 31 May 2016 and, on 30 November 2016, payment of the first half-yearly interest amount and amortisation of the debenture premium. Explanations aren't required.