1 100 points book When Patey Pontoons issued 10% bonds on January 1, 2024, with a face amount of $880.000, the market yield for bonds of similar risk and maturity was 1% The bonds mature December 31, 2027 (4 years) Interest is paid semiannually on June 30 and December 31 Required: 1. Determine the price of the bonds at January 1, 2024 2. Prepare the journal entry to record their issuance by Patey on January 1, 2024 3. Piepare an amortization schedule that determines interest at the effective rate each period 4. Prepare the journal entry to record interest on June 30, 2024 5. What is the amount related to the bonds that Patey will report in its balance sheet at December 31, 20247 6. What is the amount related to the bonds that Patey will report in its income statement for the year ended December 31, 2024 (gnore income taxes) 7. Prepare the appropriate joumal entries at maturity on December 31, 2027 Note: Use tebles, Excel, or a financial calculator. (EV of $1 PV of 53. EVA of 31 EVA of 51 EVAD DES1 and PVAD of $ Complete this question by entering your answers in the tabs below. 2 eg and 6 Res 7 Prepare an amortization schedule the determines interest at the effective rate each period Note found intermediate calculation and final answers to the nearest whole dolla Date Cash Payesom Efters 01810624 0610024 S 44.000 12312034 44.000 302025 12310625 0030/2026 12/310026 0002027 13302039 Tutal B an 300 Balance Outstanding Talan 1 When Patey Pontoons issued 10% bonds on January 1, 2024, with a face amount of $880,000, the market yield for bonds of similar risk and maturity was 11%. The bonds mature December 31, 2027 (4 years) Interest is paid semiannually on June 30 and December 31 Required: 100 1. Determine the price of the bonds at January 1, 2024 DO 2. Prepare the journal entry to record their issuance by Patey on January 1, 2024 3. Prepare an amortization schedule that determines interest at the effective rate each period. 4. Prepare the journal entry to record interest on June 30, 2024 5. What is the amount related to the bonds that Patey will report in its balance sheet at December 31, 2024? 6. What is the amount related to the bonds that Patey will report in its income statement for the year ended December 31, 2024 (ignore income taxes) 7. Prepare the appropriate journal entries at maturity on December 31, 2027 Note: Use tables, Excel, or a financial calculator. (EV of $1. EV of $1. EVA of $1. EVA of $1. EVAD of $1 and PVAD of $1) Complete this question by entering your answers in the tabs below. Req 1 Reg 2 Reg 3 Rag 4 Reg 5 and 6 Reg 7 Prepare the journal entry to record internt on June 30, 2024 Note: If no entry is required for a transaction/event, seled "No journal entry repared in the first account field. Round intermediate calculations and final answers to the nearest whole doll View transaction int Journal entry worksheet < Record the interest expenon on June 30, 2024. When Patey Pontoons issued 10% bonds on January 1, 2024, with a face amount of $880,000, the market yield for bonds of similar risk and maturity was 11%. The bonds mature December 31, 2027 (4 years) Interest is paid semiannually on June 30 and December 31 Required: 100 points 1. Determine the price of the bonds at January 1, 2024 2. Prepare the journal entry to record their issuance by Patey on January 1, 2024 3. Prepare an amortization schedule that determines interest at the effective rate each period 4. Prepare the journal entry to record interest on June 30, 2024 5. What is the amount related to the bonds that Patey will report in its balance sheet at December 31, 2024? eBook 6. What is the amount related to the bonds that Patey will report in its income statement for the year ended December 31, 2024? Ognore income taxes) 7. Prepare the appropriate journal entries at maturity on December 31, 2027 Note: Use tables, Excel, or a financial calculator (EV of S1, EV of $1 EVA of $1. EVA OLS! EVAD of $1 and EVAD of $0 Complete this question by entering your answers in the tabs below. Req 1 Reg 21 Reg 3 Reg Heg 5 and 6 Red 7 What is the amount(s) related to the bonds that Patey will report in its balance sheet at December 31, 2024 and income statement for the year ended December 31, 20247 (Ignore income taxes.) Nate Round intermediate calculations and final answers to the nearest whole dollar 5 December 31, 2024 book value Interest expense for 2024 > bok When Patey Pontoons issued 10% bonds on January 1, 2024, with a face amount of $880,000, the market yield for bonds of similar risk and maturity was 11%. The bonds mature December 31, 2027 (4 years). Interest is paid semiannually on June 30 and December 31 Required: 1. Determine the price of the bonds at January 1, 2024 2. Prepare the journal entry to record their issuance by Patey on January 1, 2024 3. Prepare an amortization schedule that determines interest at the effective rate each period 4. Prepare the journal entry to record interest on June 30, 2024. 5. What is the amount related to the bonds that Patey will report in its balance sheet at December 31, 2024? 6. What is the amount related to the bonds that Patey will report in its income statement for the year ended December 31, 20247 (Ignore income taxes) 7. Prepare the appropriate journal entries at maturity on December 31, 2027 Note: Use tables, Excel, or a financial calculator. (EV of $1. EV of $1. EVA of $1, EVA of $1. EVAD of $1 and EVAD of $1) Complete this question by entering your answers in the tabs below. Red 1 Red 2 Req 3 Reg 4 Req 5 and 6 Req 7 Prepare the appropriate journal entries at maturity on December 31, 2027. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field Round intermediate calculations and final answers to the nearest whole dellar 1 Record the interest expense on December 31, 2027. 2 Record the retirement of the bond at maturity on December 31, 2022