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please dont use excel formulas anywhere.try to solve as soon as possible Question: On January 1, a company-issued 10 year, 10% bands payable with a

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please dont use excel formulas anywhere.try to solve as soon as possible

Question: On January 1, a company-issued 10 year, 10% bands payable with a par value of $500,000, and received $442 647 in cash proceeds. The market rate of interest at the date of issuance was 1295. The bonds pay interest semiannually on July 1 and January 1 1. What is the amount of the discount on these bonds at issuance? 2. Prepare the journal entry to record the issuance of the bonds. 3. What is the total interest expense over the life of the bonds? 4. Show the journal entry that will be used to record the interest payments over the life of the bonds

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