TUU, UU, UU10) Problem 6 On January 1, 2017, Clyde, Inc. leased several machines from Tony, LLP under a one year operating lease agreement. The lease calls for semiannual payments of $15,000 each, payable on June 30 and December 31 of each year. The machines were acquired by Tony at a cost of $90,000 and are expected to have a useful life of five years with no expected residual value. Required: Prepare the appropriate journal entries for the lessee from the inception of the lease through the end of 2017. em 5 com cember 31, 2016, balance sheet of Sydney, LLP include mount of $100 million. The bonds were issued in 2006 and had a rela t of $3,400,000 at December 31, 2016. On January 1, 2017, Sydney called nds at a price of 102 20.000, 101 Problem 4 regio. Kolbe bonds on 24.800 On January 1, 2017, ABC Company issued 12% bonds dated January 1, 2017, with a face amount of $20 million. The bonds mature in 10 years. For bonds of similar risk and maturity, the market yield is 10%. Interest is paid semiannually on June 30 and December 31 Required: 1. Determine the price of the bonds at January 1, 2017. 2. Prepare the journal entry to record the bond issuance by ABC on January 1, 2017. 3. Prepare the journal entry to record interest on June 30, 2017, using the effective interest method. 4. Prepare the journal entry to record interest on December 31, 2017, using the effective interest method