144) Calculate the cash proceeds from the following issuances ofbonds. All situations are independent of each other and all thebond issuances pay interest annually.

Note: present value tables required.

a) $100,000, five-year, 10% bonds issued when the market rate is8% b)$50,000, 10-year, 8% bonds issued when the market rate is 12%c) $200,000, 10-year, 9% bonds issued when the market rate is $12%d) $100,000, five-year, 12% bonds issued when the market rate is8%

145) Warren Corporation signs an agreement on January 2, 2010,to lease delivery equipment for a five-year period. The currentmarket value of the delivery equipment on January 2, 2010, is$225,000. The lease agreement calls for annual payments of $50,040.The first payment is made on January 2, 2010, all other paymentsare made on December 31 of each year. The lease agreement calls foran 8% interest rate. The estimated remaining life of the deliveryequipment is six years. Ownership of the delivery equipment willtransfer to Warren Corporation at the end of the lease term.

Note: present value tables required.

a) Prepare the journal entry on January 2, 2010, to record thelease agreement and make the first lease payment. b) Prepare theentry on December 31, 2010, to record the second lease payment andthe accrual of interest.