[The following information apples to the questions displayed below] Alexi Compary issued $3.40 iniliton face amount of 8%,10 yeor bonds on June 1,2022 . The bonds pay interest on an annual basis on May 31 each year. Exercise 7.16 (Algo) Part b - Horizontal model b-1. Independent of your answer to part a, assume that the proceeds were $3,048,000. Use the horizontal model to show the effect of issuing the bonds. Indicate the financial statement effect. Note: Enter your answers in whole dollars, not in milions. Enter decreases with a minus sign to indicate a negative financial statement effect. [The following information applies to the questions dispiayed delow] Alexi Company issued $3,40 million face amount of 8%,10-year bonds on June 1,2022 . The bonds pay interest on an annual basis on May 31 each year. Exercise 7-16 (Algo) Part b - Journal entry b-2. Independent of your answer to part a, assume that the proceeds were $3,048,000. Record the journal entry to show the effect of issuing the bonds. Note: Enter your answer in whole dollar, not in millions. If no entry is required for a transaction/event, select "No journal entry required" in the first account field. [The following information applies to the questions displayed below.] Alexi Company issued $3.40 million face amount of 8%, 10-year bonds on June 1, 2022. The bonds pay interest on an annual basis on May 31 each year. Exercise 7-16(Algo) Part c c. Calculate the interest expense that Alexi Company will show with respect to these bonds in its income statement for the fiscal year ended September 30,2022 , assuming that the discount of $352,000 is amortized on a straight-line basis. [The following information applies to the questions dispiayed below]. Alexi Company issued $3.40 million face amount of 8%,10-year bonds on June 1, 2022. The bonds pay interest on an annual basis on May 31 each year. Exercise 7.16( Algo) Part c 6. Calculate the interest expense that Alexi Company will show with respect to these bonds in its income statement for the fiscal year anded September 30,2022 , assuming that the discount of $352,000 is amortized on a straight-line basis