Return to question 2 Federal Semiconductors issued 11% bonds, dated January 1, with a face amount of $800 million on January 1, 2021 The bonds sold for $739,814.813 and mature on December 31, 2040 (20 years). For bonds of similar risk and maturity the market yield was 12% Interest is pald semiannually on June 30 and December 31 Required: 1. to 3. Prepare the journal entries to record their issuance by Federal on January 1, 2021, interest on June 30, 2021 (ot the effective rate) and interest on December 31, 2021 (at the effective rate) 4. At what amount will Federal report the bonds among its liabilities in the December 31, 2021, balance sheet? Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 1 to 3 Reg 4 Prepare the journal entries to record their Issuance by Federal on January 1, 2021, Interest on June 30, 2021 (at the effective rate) and interest on December 31, 2021 (at the effective rate). (If no entry is required for a transaction event, select "No Journal entry required in the first account held. Enter your answers in whole dollars.) No Data General Journal January 01, 2021 Cash Discount on bonds payable Bonds payable 1 Debilt Credi 739,814,813 60,185.187 800.000.000 OOO w Return to Question 2 20 points Federal Semiconductors issued 17% bonds, dated January 1, with a foce amount of $800 million on January 1 2021. The bonds sold for $739,814,813 and mature on December 31, 2040 (20 years). For bonds of similar risk and maturity the market yield was 12. Interestis paid semiannually on June 30 and December 31 Required: 1 to 3. Prepare the Journal entries to record their issuance by Federal on January 1 2021, interest on June 30, 2021 for the effective 4. At what amount will Federal report the bonds among its abilities in the December 31, 2021, balance sheet? Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 1 to 3 Reg 4 At what amount will Federal report the bonds among its liabilities in the December 31, 2021, balance sheet? (Enter your answers in whole dollars.) Cash Bond Interest Discount Period End Interest Expense Amortization Carrying Value Paid 01/01/2021 740,615 924 06/30/2021 $44.000.000 $ 44 438.955 436,955 741,052 879 12/31/2021 44,000,000 44.463,173 463.173 741 516.052 Mc Graw