Present Value of Ordinary Annuity of $1 per Period requiremerts. 1. Joumaize the entry to record the amount of cash proceeds trom the issuance of the bonds on fuly 1,20 Yi dollov) Feler to the Charf of Accounts for exact woroing of account bties Hon does etadiox math? 3. Determine the total interest expense for 20Y1. Enter amount as a positive number. 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? Yes No 5. Compute the price of $42,051,560 received for the bonds by using the tables shown in Present Value Tables. (Round to the nearest dollar) resent Value Tables \begin{tabular}{|l|llllllll} \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 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} 5. Compute the price of $42,051,560 received for the bonds by using the tables shown in Present Value Tables (Round to the nearest dolitar) Present Value Tables of account tiles (Found to the nearest dollor) Present Value Tables \begin{tabular}{lllllllll} 15 & 11.11839 & 10.73955 & 10.37966 & 10.03758 & 9.71225 & 9.40267 & 9.10791 \\ \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 \\ 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 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 \end{tabular} of account bibs (hound to the nearest dollar) Question not attempted. semiannually on Decenibor 31 and June 30 . The fiscal yox of the company is the calendar yeat Required: 2. Joumalie the entries to recove the followisg: (Round to the nearest dailar) dolats) 3. Defermine the total interest expense for 20Y l 4. Wir the bond proceeds abways be fess than the face amount of the bonds inten the contract rate is less man the maket rate of interest? 5 Comoule the price of 542,051,560 feceived for the bonds by using the present value tables. (Fiound to the nearest dotar) "Refer to the Chart of Accounts for exact wording of accourt tiles