please show all work

Instructions: Complete the following problems on paper and when finished, log into Bb and begin answering questions related to the work you will have done on paper. Do not attempt the Bb exam before you have these problems solved on paper. PROBLEM ONE - 32 points The following amortization and interest schedule reflects the issuance of debenture bonds by Hammerhead Corporation on January 1, 2020, and the subsequent semiannual interest payments made on June 30 and December 31 each year. Portions of the bond amortization schedule appear below: Cash Effective Increase in Outstanding Payment Payment Interest Balance Balance 6627,273 1 320,000 331,364 11,364 6638,637 2 320,000 331,932 11.932 6650,569 3 320,000 332.528 12.528 6663,097 4 320,000 333, 155 13.155 & 676,252 5 320,000 333,813 13.813 6690,065 320,000 334 503 14,503 6704.568 AWN- ?? 38 39 40 320,000 320,000 320,000 389,107 392,562 396,191 69,107 72,562 76.191 7.851,247 7.923.809 &000,000 1. How much is the face amount of these bonds? 2. How much is the selling price of the bonds? Do not enter S sign and no commas - only the number. 3. Were the bonds issued at Face, Discount, or Premium? Enter your answer as F. D. or P only. 4. What is the full term to maturity in years? Enter answer in numerical format, not words 5. Interest expense is calculated by what approach, straight-line (enter S) or effective interest method (enter E)? 6. What is the annual stated annual interest rate? Enter only the number but not the % sign or words 7. What is the annual effective annual interest rate? Enter only the number but not the % sign or words 8. What is the total cash interest paid over the term to maturity ? Enter the number without S sign and no commas. 9. What is the total effective interest expense recorded over the term to maturity? Enter the number without $ sign and no commas. 10. On the basis of the schedule above, prepare the journal entry to record the issuance of the bonds on payment 3. 11. How much is the total interest expense reported on the income statement for year two? Enter the number without $ sign and no commas. 12. When computing the price of these bonds, what time value table factors were used for the interest and the principal? Enter the factor as shown in your time value of money table. 13. After completing the above items 1 thru 3, now assume that Hammerhead Corporation decided to redeem one half of the bonds after payment 4. Prepare the journal entry to record the redemption of these bonds the day after payment 4