TELUS Corporation issued 3.75% notes on June 30, 2019. 7 The debentures have the following specifications: 7 In reality, the notes were issued on May 22,2019 , they mature on June 15,2049 , and interest payment dates are June 15 and December 15 . These dates were changed slightly to simplify the computation of interest accrual. Required: 1. Prepare a journal entry to record the sale of these debentures on June 30, 2019. Use a discount account. (If no entry is required fo a transaction/event, select "No journal entry required" in the first account field. Enter your answers in dollars and not in millions.) Journal entry worksheet Note: Enter debits before credits. 2. Prepare the journal entry to record the payment of interest and amortization of the discount on December 31,2019 . The company uses the effective-interest method of amortization with a discount account. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in dollars and not in millions. Round the final answers to the nearest whole dollar. Assume there are 30 days in a month and 360 days in a year.) Journal entry worksheet Record payment of interest and amortization of discount/premium. Note: Enter debits before credits. 3. Record the amounts that should be reported on TELUS's financial statements for 2019 . The company's fiscal year ends on December 31. (Enter your answers in dollars and not in millions. Round the final answers to the nearest whole dollar.) 4. Compute the total amount of interest expense over the life of the notes. (Enter your answers in dollars and not in millions.) TELUS Corporation issued 3.75% notes on June 30, 2019. 7 The debentures have the following specifications: 7 In reality, the notes were issued on May 22,2019 , they mature on June 15,2049 , and interest payment dates are June 15 and December 15 . These dates were changed slightly to simplify the computation of interest accrual. Required: 1. Prepare a journal entry to record the sale of these debentures on June 30, 2019. Use a discount account. (If no entry is required fo a transaction/event, select "No journal entry required" in the first account field. Enter your answers in dollars and not in millions.) Journal entry worksheet Note: Enter debits before credits. 2. Prepare the journal entry to record the payment of interest and amortization of the discount on December 31,2019 . The company uses the effective-interest method of amortization with a discount account. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in dollars and not in millions. Round the final answers to the nearest whole dollar. Assume there are 30 days in a month and 360 days in a year.) Journal entry worksheet Record payment of interest and amortization of discount/premium. Note: Enter debits before credits. 3. Record the amounts that should be reported on TELUS's financial statements for 2019 . The company's fiscal year ends on December 31. (Enter your answers in dollars and not in millions. Round the final answers to the nearest whole dollar.) 4. Compute the total amount of interest expense over the life of the notes. (Enter your answers in dollars and not in millions.)
