On July 1, 20Y1, Danzer Industries Inc. Issued $50,000,000 of 10-year, 8% bonds at a market (effective) interest rate of 10%, receiving cash of $43,768,920. Interest on the bonds is payable semiannually on December 31 and June 30 . The fiscal year of the company is the calendar year. Required: 1. Journalize the entry to record the amount of cash proceeds from the issuance of the bonds on July 1,20Y1." 2. Joumalize the entries to record the following:* a. The first semiannual interest payment on December 31, 20Y1, and the amortization of the bond discount, using the straight-line method. (Round to the nearest dollar.) b. The interest payment on June 30,20Y2, and the amortization of the bond discount, using the straight-line method. (Round to the nearest dollar.) 3. Determine the total interest expense for 20y1. 3. Determine the total interest expense for 20Y1. 4. Will the bond proceeds always be less than the face amount of the bonds when the contract rate is less than the market rate of interest? 5. Compute the price of $43,768,920 received for the bonds by using the present value tables. (Round to the neares dollar.) Two present value tables are provided: Present Value of $1 at Compound Interest Due in n Periods and Present Value of Ordinary Annuity of $1 per Period. Use them as directed in the problem requirements. Present Value Tables 910111213141516171819200.702590.675560.649580.624600.600570.577480.555260.533910.513370.493630.474640.456390.672900.643930.616200.589660.564270.539970.516720.494470.473180.452800.433300.414640.644610.613910.584680.556840.530320.505070.481020.458110.436300.415520.395730.376890.617630.585430.554910.525980.498560.472570.447930.424580.402450.381470.361580.342730.591900.558390.526790.496970.468840.442300.417270.393650.371360.350340.330510.311800.567350.532730.500210.469680.441020.414100.388830.365100.342810.321890.302240.283800.543930.508350.475090.444010.414960.387820.362450.338730.316570.295860.276510.25842 Present Value Tables 2122232425262728293031320.438830.421960.405730.390120.375120.360690.346820.333480.320650.308320.296460.285060.396790.379700.363350.347700.332730.318400.304690.291570.279020.267000.255500.244500.358940.341850.325570.310070.295300.281240.267850.255090.242950.231380.220360.209870.324860.307930.291870.276660.262230.248560.235600.223320.211680.200640.190180.180270.294160.277510.261800.24690.233000.219810.207370.195630.184560.174110.164250.154960.266480.250210.234940.220600.207140.194500.182630.171480.161010.151190.141960.133290.241510.225710.210950.197150.184250.172200.160930.150400.140560.131370.122770.11474 Present Value of Ordinary Annuity of $1 per Period Present Value Tables \begin{tabular}{|l|l|l|l|l|l|ll} \hline 4 & 3.62990 & 3.58753 & 3.54595 & 3.50515 & 3.46511 & 3.42580 & 3.38721 \\ \hline 5 & 4.45182 & 4.38998 & 4.32948 & 4.27028 & 4.21236 & 4.15568 & 4.10020 \\ \hline 6 & 5.24214 & 5.15787 & 5.07569 & 4.99553 & 4.91732 & 4.84101 & 4.76654 \\ \hline 7 & 6.00205 & 5.89270 & 5.78637 & 5.68297 & 5.58238 & 5.48452 & 5.38929 \\ \hline 8 & 6.73274 & 6.59589 & 6.46321 & 6.33457 & 6.20979 & 6.08875 & 5.97130 \\ \hline 9 & 7.43533 & 7.26879 & 7.10782 & 6.95220 & 6.80169 & 6.65610 & 6.51523 \\ 10 & 8.11090 & 7.91272 & 7.72173 & 7.53763 & 7.36009 & 7.18883 & 7.02358 \\ 11 & 8.76048 & 8.52892 & 8.30641 & 8.09254 & 7.88687 & 7.68904 & 7.49867 \\ 12 & 9.38507 & 9.11858 & 8.86325 & 8.61852 & 8.38384 & 8.15873 & 7.94269 \\ 13 & 9.98565 & 9.68285 & 9.39357 & 9.11708 & 8.85268 & 8.59974 & 8.35765 \\ 14 & 10.56312 & 10.22283 & 9.89864 & 9.58965 & 9.29498 & 9.01384 & 8.74547 \\ 15 & 11.11839 & 10.73955 & 10.37966 & 10.03758 & 9.71225 & 9.40267 & 9.10791 \end{tabular} \begin{tabular}{|c|c|c|c|c|c|c|c|} \hline 16 & 11.65230 & 11.23402 & 10.83777 & 10.46216 & 10.10590 & 9.76776 & 9.44665 \\ \hline 17 & 12.16567 & 11.70719 & 11.27407 & 10.86461 & 10.47726 & 10.11058 & 9.76322 \\ \hline 18 & 12.65930 & 12.15999 & 11.68959 & 11.24607 & 10.82760 & 10.43247 & 10.05909 \\ \hline 19 & 13.13394 & 12.59329 & 12.08532 & 11.60765 & 11.15812 & 10.73471 & 10.33560 \\ \hline 20 & 13.59033 & 13.00794 & 12.46221 & 11.95038 & 11.46992 & 11.01851 & 10.59401 \\ \hline 21 & 14.02916 & 13.40472 & 12.82115 & 12.27524 & 11.76408 & 11.28498 & 10.83553 \\ \hline 22 & 14.45112 & 13.78442 & 13.16300 & 12.58317 & 12.04158 & 11.53520 & 11.06124 \\ \hline 23 & 14.85684 & 14.14777 & 13.48857 & 12.87504 & 12.30338 & 11.77014 & 11.27219 \\ \hline 24 & 15.24696 & 14.49548 & 13.79864 & 13.15170 & 12.55036 & 11.99074 & 11.46933 \\ \hline 25 & 15.62208 & 14.82821 & 14.09394 & 13.41393 & 12.78336 & 12.19788 & 11.65358 \\ \hline 26 & 15.98277 & 15.14661 & 14.37519 & 13.66250 & 13.00317 & 12.39237 & 11.82578 \\ \hline 27 & 16.32959 & 15.45130 & 14.64303 & 13.89810 & 13.21053 & 12.57500 & 11.98671 \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|l|l|l|l|} \hline 28 & 16.66306 & 15.74287 & 14.89813 & 14.12142 & 13.40616 & 12.74648 & 12.13711 \\ \hline 29 & 16.98371 & 16.02189 & 15.14107 & 14.33310 & 13.59072 & 12.90749 & 12.27767 \\ \hline 30 & 17.29203 & 16.28889 & 15.37245 & 14.53375 & 13.76483 & 13.05868 & 12.40904 \\ \hline 31 & 17.58849 & 16.54439 & 15.59281 & 14.72393 & 13.92909 & 13.20063 & 12.53181 \\ \hline 32 & 17.87355 & 16.78889 & 15.80268 & 14.90420 & 14.08404 & 13.33393 & 12.64656 \\ \hline 33 & 18.14765 & 17.02286 & 16.00255 & 15.07507 & 14.23023 & 13.45909 & 12.75379 \\ \hline 34 & 18.41120 & 17.24676 & 16.19290 & 15.23703 & 14.36814 & 13.57661 & 12.85401 \\ \hline 35 & 18.66461 & 17.46101 & 16.37419 & 15.39055 & 14.49825 & 13.68696 & 12.94767 \\ \hline 40 & 19.79277 & 18.40158 & 17.15909 & 16.04612 & 15.04630 & 14.14553 & 13.33171 \\ \hline 45 & 20.72004 & 19.15635 & 17.77407 & 16.54773 & 15.45583 & 14.48023 & 13.60552 \\ \hline 50 & 21.48218 & 19.76201 & 18.25593 & 16.93152 & 15.76186 & 14.72452 & 13.80075 \\ \hline \end{tabular}