On January 1, 2022, Drennen, Incorporated, issued $3.6 million face amount of 8-yeat, 14% stated rate bonds when market interest rates were 12%. The bonds pay semiannual interest each June 30 and December 31 and mature on December 31. 2026. Tabie 6.4. Iable 6.-5 Note: Use appropriate factor from the table provided. roblem 7.33 (Algo) Part a equired: Caiculate the proceeds (issue price) of Drennen Incorporated's bonds on January 1, 2022, assuming that the bonds were sold to rovide a market rate of return to the investor. lote: Enter your answers in whole dollars, not in millions. Table 6.4: Factors for Calculating the Present Value of \$1 Table 6-5: Factors for Calculating the Present Value of an Annuity of $1 On Janaary 1, 2022. Drennen, Incorporated, issued $3.6 milion face amount of B-year, 14% stated rate bonds when market interest rates were 12\%. The bonds pay semiannual interest each June 30 and December 31 and mature on December 31. 2026. Iabin. 6.4. Table. 6.5 Note: Use appropriate factor from the table provided. Problem 7.33 (Algo) Part b - Horizontal model b-2. Assume instead that the proceeds were 53,528,000. Use the horizontal model to record the payment of semiannual interest and the related discount amortization on June 30,2022 , assuming that the discount of $72.000 is amortized on a straight-line basis. Notei Enter decreeses with a minus sign to indicate a negative financial statenent effect. On January 1, 2022, Drennen, Incorporated, issued $3.6 million face amount of 8 -year, 14% stated rate bonds when market Interest rates were 12\%. The bonds pay semiannual interest each June 30 and December 31 and mature on December 31, 2026. Table 6-4. Table 6-5 Note: Use appropriate factor from the table provided. Problem 7.33 (Algo) Part b - Journal entry D-2. Assume instead that the proceeds were $3,528,000. Record the joumal entry to show the payment of semiannual interest and the related discount amortization on June 30,2022 , assuming that the discount of $72.000 is amortized on a straight-line basis. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the semiannual cash payment and amortization of discount. Note Enter debits before cradits