please use info given to answer the whole question! thank you!

Bond discount, entries for bonds payable transactions Instructions On July 1, 20Y1, Danzer Industries Inc. issued $30,000,000 of 10 -year, 11% bonds at a market (effective) interest rate of 12%, receiving cash of $28,279,368. Interest on the bonds is payable semiannually on December 31 and June 30 . The fiscal year of the company is the calendar year. Required: 1. Journalize the entry to record the amount of cash proceeds from the issuance of the bonds on July 1, 20Y1. 2. Journalize the entries to record the following: a. The first semiannual interest payment on December 31,20Y1, and the amortization of the bond discount, using the straight-line method. b. The interest payment on June 30,20Y2, and the amortization of the bond discount, using the straight-line method. 3. Determine the total interest expense for 20Y1. 4. Will the bond proceeds always be less than the face amount of the bonds when the contract rate is less than the market rate of interest? 5. Compute the price of $28,279,368 received for the bonds by using the present value tables. Two present value tables are provided: Present Value of $1 at Compound Interest Due in n Periods and Present Value of Ordinary Annuity of $1 per Period. Use them as directed in the problem requirements. \begin{tabular}{llllllllll} 14 & 0.57748 & 0.53997 & 0.50507 & 0.47257 & 0.44230 & 0.41410 & 0.38782 \\ \hline 15 & 0.55526 & 0.51672 & 0.48102 & 0.44793 & 0.41727 & 0.38883 & 0.36245 \\ \hline 16 & 0.53391 & 0.49447 & 0.45811 & 0.42458 & 0.39365 & 0.36510 & 0.33873 \\ \hline 17 & 0.51337 & 0.47318 & 0.43630 & 0.40245 & 0.37136 & 0.34281 & 0.31657 \\ \hline 18 & 0.49363 & 0.45280 & 0.41552 & 0.38147 & 0.35034 & 0.32189 & 0.29586 \\ \hline 19 & 0.47464 & 0.43330 & 0.39573 & 0.36158 & 0.33051 & 0.30224 & 0.27651 \\ \hline 20 & 0.45639 & 0.41464 & 0.37689 & 0.34273 & 0.31180 & 0.28380 & 0.25842 \\ \hline 21 & 0.43883 & 0.39679 & 0.35894 & 0.32486 & 0.29416 & 0.26648 & 0.24151 \\ \hline 22 & 0.42196 & 0.37970 & 0.34185 & 0.30793 & 0.27751 & 0.25021 & 0.22571 \\ \hline 23 & 0.40573 & 0.36335 & 0.32557 & 0.29187 & 0.26180 & 0.23494 & 0.21095 \\ \hline 24 & 0.39012 & 0.34770 & 0.31007 & 0.27666 & 0.24698 & 0.22060 & 0.19715 \\ \hline 25 & 0.37512 & 0.33273 & 0.29530 & 0.26223 & 0.23300 & 0.20714 & 0.18425 \\ \hline 26 & 0.36069 & 0.31840 & 0.28124 & 0.24856 & 0.21981 & 0.19450 & 0.17220 \\ \hline 27 & 0.34682 & 0.30469 & 0.26785 & 0.23560 & 0.20737 & 0.18263 & 0.16093 \\ \hline 28 & 0.33348 & 0.29157 & 0.25509 & 0.22332 & 0.19563 & 0.17148 & 0.15040 \\ \hline 29 & 0.32065 & 0.27902 & 0.24295 & 0.21168 & 0.18456 & 0.16101 & 0.14056 \\ \hline 30 & 0.30832 & 0.26700 & 0.23138 & 0.20064 & 0.17411 & 0.15119 & 0.13137 \\ \hline 31 & 0.29646 & 0.25550 & 0.22036 & 0.19018 & 0.16425 & 0.14196 & 0.12277 \\ \hline 32 & 0.28506 & 0.24450 & 0.20987 & 0.18027 & 0.15496 & 0.13329 & 0.11474 \\ \hline \end{tabular} Present Value Tables \begin{tabular}{cccccccccc|} \hline Present Value Tables & & 0.27409 & 0.23397 & 0.19987 & 0.17087 & 0.14619 & 0.12516 & 0.10723 \\ \hline 34 & 0.26355 & 0.22390 & 0.19035 & 0.16196 & 0.13791 & 0.11752 & 0.10022 \\ \hline 35 & 0.25342 & 0.21425 & 0.18129 & 0.15352 & 0.13011 & 0.11035 & 0.09366 \\ \hline 40 & 0.20829 & 0.17193 & 0.14205 & 0.11746 & 0.09722 & 0.08054 & 0.06678 \\ \hline 45 & 0.17120 & 0.13796 & 0.11130 & 0.08988 & 0.07265 & 0.05879 & 0.04761 \\ \hline 50 & 0.14071 & 0.11071 & 0.08720 & 0.06877 & 0.05429 & 0.04291 & 0.03395 \\ \hline & & & & & & & & \\ \hline \end{tabular} Instructions Present Value Tables \begin{tabular}{|l|lllllllll} 31 & 17.58849 & 16.54439 & 15.59281 & 14.72393 & 13.92909 & 13.20063 & 12.53181 \\ \hline 32 & 17.87355 & 16.78889 & 15.80268 & 14.90420 & 14.08404 & 13.33393 & 12.64656 \\ \hline 33 & 18.14765 & 17.02286 & 16.00255 & 15.07507 & 14.23023 & 13.45909 & 12.75379 \\ 34 & 18.41120 & 17.24676 & 16.19290 & 15.23703 & 14.36814 & 13.57661 & 12.85401 \\ \hline 35 & 18.66461 & 17.46101 & 16.37419 & 15.39055 & 14.49825 & 13.68696 & 12.94767 \\ \hline 40 & 19.79277 & 18.40158 & 17.15909 & 16.04612 & 15.04630 & 14.14553 & 13.33171 \\ 45 & 20.72004 & 19.15635 & 17.77407 & 16.54773 & 15.45583 & 14.48023 & 13.60552 \\ \hline 50 & 21.48218 & 19.76201 & 18.25593 & 16.93152 & 15.76186 & 14.72452 & 13.80075 \\ \hline \end{tabular} 3. Determine the total interest expense for 20Y1. Additional Instructions 4. Will the bond proceeds always be less than the face amount of the bonds when the contract rate is less than the market rate of interest? Yes No 5. Compute the price of $28,279,368 received for the bonds by using the tables shown in Present Value Tables. Additional Instruction