1, 2017, McVay Corporation issued $15 million of 10-year bonds with an 8% stated rate. The bonds pay interest semiannually on June 30 and December 31 of each year , 2017, for bonds of this type was 10%. McVay closes its On July 1, rate of interest on July 1 The market books on December 31 Required: I. At what price were the bonds issued? 2. Using the effective interest method, prepare an amortization schedule showing interest expense, discount or premium amortization, and bond carrying value for each of the first four semiannual interest payment periods. 3. Prepare journal entries to record the first four semiannual interest payments. 4. How should the bonds be shown on McVay's December 31, 2017, balance sheet and on its December 31, 2018, balance sheet