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Roger Corriento, 11,400,000 110 4 The interment on ane 30. mar 2, and the worst of the band premium, cong the owner owned to the wrota. 2. Determine the most expens for year 1. Round to the nearest estar 4. Will the bone precede habe greater the tice amount of the bonds when the correct seater than the man S. Compute the price of 66,218,241 received for the honds by aing Presente compound rest, and Presere were al Round to the nearest dollar. Your tu may vary from the end to rounding offerences Present of the face amount Present value of the manualer payments Price received for the bonds Set Bond Premium, Entries for Bonds Payable Transactions Rodgers Corporation produces and sells football equipment. On Buy 1 Year 1. Rodgers Corporation is $62,400,000 of 10 year, 11% bonds at a market (ellective interest rate of 10%, receiving cash of $66,255,241. Interest on the bonds is payable seminarly on December 31 and June 30. The fiscal year of the company's the calendar year Required: For all journal entries, it an amount box does not require an entry leave it blank 1. Journalize the entry to record the amount of cash proceeds from the issuance of the bords only 1, Year 1 2. Journalire the entries to record the following: 4. The first semiannual interest payment on December 31, Year 1, and the amortization of the bond premium, using the straight-line method. Round to the nearest dollar. b. The interest payment on June 30, Year 2, and the amarttration of the bond premium, using the straight-line method. Round to the nearest dollar. 3. Determine the total internet expense for Year 1. Round to the nearest dollar 4. Will the bond proceeds always be greater than the face amount of the bonds when the contract ten greater than the market rate? S. Compute the price of 566,283,241 received for the bends by using Present volum et compound interest and present value of an antity Hound to the nearest deltar. Your tutat may vary slightly from the price given due to rounding differences Present value of the face amount Present value of the semiannual interest payments Price received for the bonds Rodgers Corporation produces and sells football equipment. On July 1 Year 1, Rodgers Corporation issued $62,400,000 of 10 year, 11% bonds at a market (effective) Interest rate of 10%, receiving cash at $66,283,242. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year Required: For all journal entries, if an amount box does not require an entry, leave it blank, 1. Journalize the entry to record the amount of cash proceeds from the act of the bond on July 1. Year 1. 2. Joumalize the entries to record the following: a. The first semiannual interest payment on December 31, Year 1, and the amortization of the bond premium, using the straight-line method, Round to the nearest dollar. The interest payment on June 30, Yoar 2, and the amortization of the bond premium, using the straight-line method. Round to the nearest dollar 3. Determine the total interest expense for Year 1. Round to the nearest dollar. 3 4. Will the bond proceeds always be greater than the face amount or the bonds when the contract rate is greater than the market rate of 5. Compute the price of 566,285,241 received for the bonds by using Present value at compound Interest, and rent value of an annuity Round to the nearest dollar. Your total may vary slightly from the price given due to rounding difference Present value of the face amount Present value of the seminarest payments Price received for the bonds