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On July 1, 20Y1, Danzer Industries Inc. issued $37,400,000 of 10-year, 8% bonds at a market fattective interest rate of 10%,receiving cash of 532,739,152. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year. Required: 1. Jourmalize the entry to record the amount of cash proceeds from the issuance of the bonds on July 1, 2011: 2. Journalize the entries to record the following. a. The first semiannual interest payment on December 31, 20Y1, and the amortization of the bond discount, using the straight line method. (Pound to the nearest coitar) b. The interese payment on June 30, 2012, and the amortization of the bond discount using the straight-Ine method. (Round to the nearest dollar) 3. Determine the total interest expense for 20Y1. 4 wu 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? 5. Compute the price of 532,739,162 received for the bonds by using the present value tubos. (Round to the nearest toalue) *Refer to the Chart of Accounts for exact wording of account titles CengageNOWV2 Onire teaching and learning resource from Cente Book Show Me How Bond discount entries for bonds payable transactions Instructions Chart of Accounta Journal Final Questions Present Value Tables Two present value tables are provided: Present Value of S1 at Compound Interest due inn Perlods and Present Value of Ordinary Annuity of 51 per Period. Use them an directed in the problem requirements Periods 7% 1 0.93458 0.87344 2 3 0.81630 0.76290 4 5 6 0.71299 0.66634 Present Value of $1 at Compound Interest Due Inn Periods 4.0% 4.5% 5% 5.5% 6% 6.5% 0.96154 0.95694 0.95238 0.94787 0.94340 0.93897 0.92456 0.91573 0.90703 0.89845 0.89000 0.88166 0.88900 0.87630 0.86384 0.85161 0.83962 0.82785 0.85480 0.83856 0.82270 0.80722 0.79209 0.77732 0.82193 0.80245 0.78353 0.76513 0.74726 0.72988 0.79031 0.76780 0.74622 0.72525 0.70496 0.68533 0.75992 0.73483 0.71068 0.68744 0.66506 0.64351 0.73069 0.70319 0.67684 0.65100 0.62741 0.60423 0.70259 0.67290 0.64461 0.61763 0.59190 0.56735 0.67556 0.64393 0.61391 0.58543 0.55839 0.53273 0.64958 0.61620 0.58468 0.55491 0.52679 0.50021 0.62460 0.58966 0.55684 0.52598 0.49697 0,46968 0.60057 0.56427 0.53032 0.49856 0.46884 0.44102 0.57748 0.53997 0.50507 0.47257 0.44230 0.41410 7 0.62275 0.58201 8 9 0.54393 10 11 0.50835 0.47509 0.44401 12 13 0.41496 0.38782 15 n 51672 AR1 4.4793 41797 9:45 Bond discount, entries for bonds payable transactions Instructions Present Value Tables Chart of Accounts Journal Final Questions Present Value Tables 34 0.26355 0.22390 0.19035 0.16196 0.13791 0.11752 0.10022 35 0.25342 0.21425 0.18129 0.15352 0.13011 0.11035 0.09366 40 0.20829 0.17193 0.14205 0.11746 0.09722 0.08054 0.06678 45 0.17120 0.13796 0.11130 0.08988 0.07265 0.05879 0.04761 50 0.14071 0.11071 0.08720 0.06877 0.05429 0.04291 0.03395 Present Value of Ordinary Annuity of $1 per Period 4.5% 5% 5.5% Periods 4.0% 6% 6.5% 7% 0.96154 0.95694 0.95238 0.94787 0.94340 0.93897 0.93458 2 1.88609 1.87267 1.85941 1.84632 1.83339 1.82063 1.80802 3 2.77509 2.74896 2.72325 2.69793 2.67301 2.64848 2.62432 3.62990 3.58753 3.54595 3.50515 3.46511 3.42580 3.38721 4.45182 4.38998 4.32948 4.27028 4.21236 4.15568 4.10020 6 5.24214 5.15787 5.07569 4.99553 4.91732 4.84101 4.76654 7 6.00205 5.89270 5.78637 5.68297 5.58238 5.48452 5.38929 8 6.73274 6.59589 6,46321 6.33457 6.20979 6.08875 5.97130 9 7.43533 7.26879 7.10782 6.95220 6.80169 6.65610 6.51523 10 8.11090 7.91272 7.72173 7.53763 7.36009 7.18883 7.02358 11 8.76048 8.52892 8.30641 8.09254 7.88687 7.68904 7.49867 12 9.38507 9.11858 8.86325 8.61852 8.38384 8.15873 7.94269 v2.cengagenow.com Sook Show Me How ond discount, entries for bonds payable transactions Instructions Present Value Tables Chart at Accounts Journal Final Questions Present Value Tables 13 9.98565 9.68285 9.39357 9.11708 8.85268 8.59974 8.35765 14 10.56312 10.22283 9.89864 9.58965 9.29498 9.01384 8.74547 15 11.11839 10.73955 10.37966 10.03758 9.71225 9.40267 9.10791 16 11.65230 11.23402 10.83777 10.46216 10.10590 9.76776 9.44665 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 19 13.13394 12.59329 12.08532 11.60765 11.15812 10.73471 10.33560 20 13.59033 13.00794 12.46221 11.95038 11.46992 11.01851 10.59401 21 14.02916 13.40472 12.82115 12.27524 11.76408 11.28498 10.83553 22 14.45112 13.78442 13.16300 12.58317 12.04158 11.53520 11.06124 23 14.85684 14.14777 13.48857 12.87504 12.30338 11.77014 11 27219 24 15.24696 14.49548 13.79864 13.15170 12.55036 11.99074 11.46933 25 15.62208 14.82821 14.09394 13.41393 12.78336 12.19788 11.65358 26 15.98277 15.14661 14.37519 13.66250 13.00317 12.39237 11.82578 27 16.32959 15.45130 14.64303 13.89810 13.21053 12.57500 11.98671 28 16,66306 15.74287 14.89813 14.12142 13.40616 12.74648 12.13711 29 16.98371 16.02189 15.14107 14.33310 13.59072 12.90749 12.27767 30 17.29203 16.28889 15.37245 14,53375 13.76483 13.05868 12.40904 31 17.58849 16.54439 15,59281 14.72393 13.92909 13.20063 12.53181 . ack My Work 19 19.99 12.59329 12.08532 11.60785 11.15812 10.73471 10.33560 20 19.59033 13.00794 12.48221 11.95038 114992 11.01851 18.39401 14.02916 13.40472 12.82115 12.27524 11.76408 11.28488 10.83553 22 14.45112 13.78442 13.16300 12.58317 12.04156 11.53520 11.06124 2 14.85684 14.14777 13.48857 12.87504 12.30338 11.77014 11.27218 24 15.24696 14.49548 13.79864 13.15170 12.55036 199074 11.46933 25 15.62208 14.82821 14.09394 13.41393 12.78336 12.19788 11.65358 26 15.98277 15.14661 14.37519 13.66250 13.00317 12.39237 11.82578 27 16.32959 15.45130 14.64303 13.89810 13.21053 12.57500 11.98671 29 16.66306 15.74287 14.89813 14.12142 13.40616 12.74648 12.13711 29 16.98371 16.02189 15.14107 14.33310 13.59072 12.90749 12.27767 30 17.29203 16.28889 15.37245 14.53375 13.76483 13.05868 12.40904 31 17.58849 16.54439 15.59281 14.72393 13.92909 13 20063 12.53181 32 17.87355 16.78889 15.80268 14.90420 14.08404 13.33393 12.64656 33 18.14765 17.02286 16.00255 15.07507 14.23023 12,75379 13.45909 34 18.41120 17.24676 16.19290 15.23703 14.36814 13.57661 12.85401 18.66461 17.46101 16.37419 15.39055 14.49825 13.68696 12.94787 40 19.79277 18.40158 17.15909 16.04612 15.04630 14.14553 13.33171 20.72004 45 19.15635 17.77407 16.54773 15.45583 14.48023 13.60552 50 21.48218 19.76201 18.25593 16.93152 13.80075 15.76186 14.72452 Journal 1. Journalize the entry to record the amount of cash proceeds from the issue of the bonds on July 1, 2011. 2. Journakze the entry to record the first semiannual interest payment on December 31, 2011, and the amortization of the bond discount, using the straight ne method (Pound to the nearest dostar) Refer to the Chart of Accounts for exact wording of account titles. PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REK Dar CREDIT ASSETS LIABILITIES EOUT 1 2 I