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please provide work Universal Foods issued 12% bonds, dated January 1, with a face amount of $135 million on January 1, 2021 to Wang Communications.
please provide work Universal Foods issued 12% bonds, dated January 1, with a face amount of $135 million on January 1, 2021 to Wang Communications. - The bonds mature on December 31,2038 (15 years). - The market rate of interest for similar issues was 14%. - Interest is paid semiannually on June 30 and December 31. - Universal uses the straight-line method. 1. to 3. Prepare the journal entries to record the purchase of the bonds by Wang Communications on January 1, 2024, interest revenue Required: on June 30, 2024 and interest revenue on December 31, 2031. Note: Round your final answers to the nearest whole dollars. If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Use tables, Excel, or a financial calculator. (FV of S1. PV of \$1. EVA of S1, PVA of S1. EVAD of \$1 and PVAD of \$1)
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