Required information [The following information applles to the questions displayed below.] Jessle Co. Issued $7 million face amount of 12.2%,20-year bonds on April 1, 2019. The bonds pay Interest on an annual basis on March 31 each year. Required: . Assume that market Interest rates were slightly lower than 12.2% when the bonds were sold. Would the proceeds from the bond Iss Multiple Cholce The bonds will sell for more than thelr face amount. The bonds will sell for less than thelr face amount. The bonds will sell for equal to thelr face amount. Required information [The following information applies to the questions displayed below.] Jessle Co. Issued $7 million face amount of 12.2%, 20-year bonds on April 1, 2019. The bonds pay Interest on an annual basis on March 31 each year. b-1. Independent of your answer to part a, assume that the proceeds were $7,054,000. Use the horizontal model to show the effect of Issuing the bonds. Indicate the financlal statement effect. (Enter decreases with a minus sign to Indicate a negatlve financial statement effect.) Required Information [The following information applies to the questions displayed below.] Jessie Co. Issued $7 million face amount of 12.2%, 20-year bonds on April 1, 2019. The bonds pay Interest on an annual basis on March 31 each year. o-2. Independent of your answer to part a, assume that the proceeds were $7,054,000. Record the journal entry to show the effect of ssuing the bonds. (Enter your answer in whole dollar, not in millions. If no entry is required for a transaction/event, select "No ournal entry required" in the first account field.) Journal entry worksheet Nate: Enter debits before cred ts. Required Information [The following information applies to the questions displayed below.] Jessle Co. Issued $7 million face amount of 12.2%, 20-year bonds on April 1, 2019. The bonds pay interest on an annual basis on March 31 each year. c. Calculate the interest expense that Jessle Co. Will show with respect to these bonds in Its Income statement for the fiscal year ended September 30, 2019, assuming that the premlum of $54,000 is amortized on a straight-line basis