b. The interest payment on June 30, 2012, and the amortization of the bond discount, using the straight-line method. Round to the nearest dollar. Date Account Debit Credit 2012 June 30 3. Determine the total interest expense for 201 4. Will the bond proceeds always be less than the face amount of the bands when the contract rate is less than the market i 5. Compute the price of $42.309,236 received for the bonds by using the Present value at compound interest, and Present value of an annuity Round your PV values to 5 decimal places and the final answers to the nearest dollar. Your total may vary slightly from the price given due to rounding differences Present value of the face amount Present value of the semiannual interest payments Proceeds of bond Band discount, entries for bonds payable transactions On July 1, 2011, Livingston Corporation, a wholesaler of manufacturing equipment, issued $46,000,000 of 20-year, 10% bonds at a market (effective) interest rate of 11%, receiving cash of $42,309,236. 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 issuance of the bonds on July 1, 2011 Date 2011 July 3 Account Debit Credit 2. Journale the entries to recent the following The first semanual interest payment on December 31, 2011, and the amortization of the band decount, using the straight-line method, Round to the nearest dollar Date 2011 Dec 31 Account Den Credit The interest payment on June 30, 2012, and the amortization of the bend cunt, using the straight-ine method. Round to the nearest dollar. Date 2012 June 30 Account Debil Credi