Sawada Insurance Ltd. issues bonds with a face value of $100 million that mature in 12 years. The bonds carry a 8.4% interest ra and are sold at 125.23 to yield 5.5%. They pay interest semi-annually. (a) Your answer is partially correct. Calculate the proceeds on issuance of the bonds, and show the journal entry to record the issuance. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts.) Proceeds on Issuance of the Bonds $ 109570000 Credit Account Titles and Explanation Cash Debit 109570000 Notes Payable 109570000