Tor bonds payable transactions Instructions Present Value Tablos Chart of Accounts Journal Final Questions Instructions Campbell Inc, produces and sols outdoor equipment, On July 1, 20Y1, Campbell issued $87.000.000 of 10-you, 10% bonds at a market (effective interest rate of receiving cash of $10,658.219. Interest on the bonds is payable semiannually on December 31 and June 30. The fool year of the company is the calendar year Required: 1. Joumalize mne entry to record the amount of cash proceeds from the issue of the bonds on Ay 1, 2011 2. Journalire the entries to record the following a. The first semiannual interest payment on December 31, 2011, and the amortization of the bond premium, using the straight-in method. (Round to the nearest dolar) b. The interest payment on June 30, 2012. and the amortization of the bond premium, using the straight-ine method (Round to the nearest dollar) 3. Determine the total interest experise for 2011 4. Ww the band proceeds always be greater than the face amount of the bonds when the contract rate is greater than the market rate of interest 5 Compute the price of 592.688.219 receved for the bonds by using the present value tables (Pound to the nearest dolar) *Refer to the Chart of Accounts for exact wording of account titles and 2. Journalize the entries to record the transactions. Refer to the Chart of Accounts for exact wording of account thes. Hound to the nearest data INGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRPTION POSTRE OEST 1 CREDIT ASSETS LABUTIES EQUITY 2 3 PAGE 11 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABUTIES EQUITY 3. Determine the total interest expense for 20Y1. Enter amount as a positive numbers Will the bond proceeds always be greater than the face amount of the bonds when the contract rate is greater than the market rate of interest? Yes No 5. Compute the price of $92,658,219 received for the bonds by using the present value tables, Round to the nearest dollar Present value of the face amount Present Value of the semiannual interest payments Price received for the bonds