On January 1 of Year 1, Alpha Corporation issued $400,000 of 8% (cash payable semiannually on...

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On January 1 of Year 1, Alpha Corporation issued $400,000 of 8% (cash payable semiannually on June 30 and December 31), three-year bonds to yield 10%. Required a. Compute the selling price of the bonds, net of the bond issuance costs. c. Prepare entries on January 1 of Year 1 to record bond issuance, and on June 30 and December 31 of Year 1 to record interest payments. d. Indicate how the company would report the bond transactions in the balance sheet and income statement for the year ended December 31 of Year 1. On January 1 of Year 1, Alpha Corporation issued $400,000 of 8% (cash payable semiannually on June 30 and December 31), three-year bonds to yield 10%. Required a. Compute the selling price of the bonds, net of the bond issuance costs. c. Prepare entries on January 1 of Year 1 to record bond issuance, and on June 30 and December 31 of Year 1 to record interest payments. d. Indicate how the company would report the bond transactions in the balance sheet and income statement for the year ended December 31 of Year 1.