$1$ Queen Energy Inc. Issued bonds on January $1,2023,$ that pay interest semiannually on June $30$ and December $31.$ The par value of the bonds is $$210,000,$ the annual contract rate is $6\%,$ and the bonds mature in $10$ years. $($Use TABLE $14$A$\mathrm{.}1$ and TABLE $14$A$.2.)($Use approprlate factor$($s$)$ from the tables provided.$)$

Required:

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a$.$ For each of these three situations, determine the issue price of the bonds. $($Do not round Intermedlate calculations. Round the

points

final answers to the nearest whole dollar.$)$

$\backslash$table$[[,\backslash$table$[[$Market rate$],[$interest$]],\backslash$table$[[$Issue Price of the$],[$Bonds$]]],[(1),4\%,],[(2),6\%,],[(3),8\%,]]$

b$.$ For each of these three situations, prepare the journal entry that would record the issuance, assuming the market interest rate at the date of Issuance was $(1)4\%,(2)6\%,(3)8\%.($Use PV tables In determining the Issue price of the bonds. Do not round Intermedlate calculations. Round the final answers to the nearest whole dollar.$)$

Journal entry worksheet

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$2$

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Record the sale of bonds on original issue date at $4\%$ market interest rate.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$January $01,2023,,,],[,,,]]$