Please explain how to calculate this to get an answer like the key above (check the picture for the complete question) for number 121, 123, 127, 128, and 129

Chapter : LONG-TERM LIABILITIES

121. $3 million, 10%, 10-year bonds are issued at face value. Interest will be paid semi- annually. When calculating the market price of the bond, the present value of

123. A corporation issued $300,000, 10%, 5-year bonds on January 1, 2008 for $324,333, which reflects an effective-interest rate of 8%. Interest is paid semiannually on January 1 and July 1. If the corporation uses the effective-interest method of amortization of bond premium, the amount of bond interest expense to be recognized on July 1, 2008, is

127. Silcon Company issued $800,000 of 6%, 10-year bonds on one of its interest dates for $690,960 to yield an effective annual rate of 8%. The effective-interest method of amortization is to be used. What amount of discount (to the nearest dollar) should be amortized for the first interest period?

128. The journal entry on the first interest payment date, to record the payment of interest and amortization of discount will include a

129. How much bond interest expense (to the nearest dollar) should be reported on the income statement for the end of

a121. $3 million, 10%, 10-year bonds are issued at face value. Interest will be paid semi- annually. When calculating the market price of the bond, the present value of a. $300,000 received for 10 periods must be calculated. b. $3 million received in 10 periods must be calculated. C. $3 million received in 20 periods must be calculated. d. $150,000 received for 10 periods must be calculated. *123. A corporation issued $300,000, 10%, 5-year bonds on January 1, 2008 for $324,333, which reflects an effective-interest rate of 8% Interest is paid semiannually on January 1 and July 1. If the corporation uses the effective-interest method of amortization of bond premium, the amount of bond interest expense to be recognized on July 1, 2008, is a. $15,000 b. $12,000. C. $16,217 d. $12,973 Use the following information for questions 127-129. Silcon Company issued $800,000 of 6%, 10-year bonds on one of its interest dates for $690,960 to yield an effective annual rate of 8%. The effective-interest method of amortization is to be used. *127. What amount of discount (to the nearest dollar) should be amortized for the first interest period? a. $22,542 b. $10,904 C. $14,554 d. $7,277 "128. The journal entry on the first interest payment date, to record the payment of interest and amortization of discount will include a a. debit to Bond Interest Expense for $48,000. b. credit to Cash for $55,277. C. credit to Discount on Bonds Payable for $7,277. d. debit to Bond Interest Expense for $64,000. *129. How much bond interest expense (to the nearest dollar) should be reported on the income statement for the end of the first year? a. $55,422 b. $55,277 c. $55,131 d. $48,000