Cansat, a Crown corporation owned by the government issued bonds to finance the construction of the next generation of observation satellites. On January 1, 2020, Cansat issued 7%, 15-year bonds with a face value of $152,000.000. The bonds will pay interest semi-annually on June 30 and December 31 Your answer is correct Calculate the amount of cash Cansat will receive if the bonds are sold under each of the following bond alternatives: 7% issued at par) La price of 95,542 to yield 7.5% la premium in the amount of $7,220,000 and first interest expense of $5.174,650 Cash Received i $ 152,000,000 II. $ 145223840 lis 159220000 Your answer is correct. Prepare the journal entry Cansat would record at the time of the issuance of the bonds under each of the alternatives. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) No. Account Titles and Explanation Debit Credit Cash 152000000 Notes Payable 152000000 145223840 il. Cash 145223840 Notes Payable 159220000 Cash 159220000 Notes Payable 0.94/1 Prepare the journal entries to record the first interest expense for the alternatives (0.01), and (ii) above. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) No. Account Titles and Explanation Debit Credit 1. Interest Expense 5320000 Cash 5320000 ii. Interest Expense 5320000 Cash Notes Payable III. Interest Expense Notes Payable 5320000 Cash