1. Queen Energy Inc issued bonds on January 1, 2020, that pay interest semiannually on June 30 and December 31. The par value of the bonds is $ 320,000, the annual contract rate is 8%, and the bonds mature in 10 years. (Use TABLE 14A] and TABLE 14A.2.) [Use appropriate factor (3) from the tables provided. Required: A. For each of these three situations, determine the issue price of the bonds. (Do not round intermediate calculations. Round the nal answers to the nearest whole dollar.) 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) 6%, (2) 3%, (3) 10%. (Use PV tables in determining the issue price of the bonds. Do not round intermediate calculations. Round the nal answers to the nearest whole dollar.) 2. Banjo Education Corp. issued a 4 % , $ 240,000 bond that pays Interest semiannually each June 30 and December 31. The date of issuance was January 1 , 2020. The bonds mature after four years . The market interest rate was 6 % . Banjo Education Corp.'s year - end is December 31. Use TABLE 14A] and TABLE 14A , 2. ( For all the requirements , Use appropriate factor ( s ) from the tables provided . ) Required : Preparation Component : 1. Calculate the issue price of the bond . ( Round the nal answer to the nearest whole dollar . ) 2. Prepare a general journal entry to record the issuance of the bonds . ( Do not round intermediate calculations . Round the nal answers to the nearest whole dollar . ) 3. Determine the total bond interest expense that will be recognized over the life of these bonds. (Do not round intermediate calculations. Round your answer to the nearest whole dollar.) 4. Prepare the rst two years of an amortization table based on the effective interest method. (Do not roumd intermediate calculations. Round the nal answers to the nearest whole dollar. Enter all the amounts as positive values.) 5. Present the journal entries Banjo would make to record the rst two interest payments. (Do not round intermediate calculations. Round the nal answers to the nearest whole dollar.)