Question: Ederal Serriconductors issued 8 % bonds, dated January 1 , with a lace amount of $ 7 4 0 million on January 1 , 2

Ederal Serriconductors issued 8% bonds, dated January 1, with a lace amount of $740 million on January 1,2024
The bonds sold for $67,914,968 and mature on December 31,2043(20 years).
For bonds of similar risk and maturity the market yleld was 9%.
Interest is psid semarnnually on June 30 and December 31.
Pequired:
7o 3. Prepare the joumal entries to record their issuance by Federal on January 1,2024, interest on June 30,2024(at the effective Tated and triterest on December 31,2024(at the effective rate).
At what amount will Federal report the bonds among its liabilties in the December 31,2024, balance sheet?
Ederal Serriconductors issued 8% bonds, dated January 1, with a lace

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