Return to question Required information The following information applies to the questions displayed below.] Alexi Co, issued $3.90 million face amount of 7%, 10 year bonds on June 1, 2019. The bonds pay interest on an annual basis on May 31 each year. Required: a. Assume that the market interest rates were slightly higher than 7% when the bonds were sold. Would the proceeds from the bond issue have been more than less than or equal to the face amount? Multiple Choice The bonds will sell for less than their face amount The bonds will soll for more than the face amount to search Required information The following information applies to the questions displayed below) Alexi Co. Issued $3.90 million face amount of 7%, 10-year bonds on June 1, 2019. The bonds pay interest on an annual basis on May 31 each year. b-1. Independent of your answer to part a, assume that the proceeds were $3,540,000. Use the horizontal model to show the effect of issuing the bonds. Indicate the financial statement effect (Enter your answers in whole dollars, not in millions. Enter decreases with a minus sign to indicate a negative financial statement effect.) Balance Sheet Liabilities + Stockholders' Equity - Net Income Assets Next search Check my w on June 1, 2019. The bonds pay interest on an annual ere $3.540,000. Use the horizontal model to show the effect of nswers in whole dollars, not in millions. Enter decreases with Income Statement - Revenues Stockholders' Equity kholders' Equity - - Net Income