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On January 1, 2021, Instaform, Inc., issued 12% bonds with a face amount of $55 million, dated January 1. The bonds mature in 2040 (20 years). The market yield for bonds of similar risk and maturity is 14%. Interest is paid semiannually. (FV of $1. PV of $1. EVA of $1. PVA of $1. FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 1-a. Determine the price of the bonds at January 1, 2021. 1-b. Prepare the journal entry to record their issuance by Instaform. 2-a. Assume the market rate was 11%. Determine the price of the bonds at January 1, 2021. 2-b. Assume the market rate was 11%. Prepare the journal entry to record their issuance by Instaform. 3. Assume Broadcourt Electronics purchased the entire issue in a private placement of the bonds. Using the data in requirement 2, prepare the journal entry to record the purchase by Broadcourt. Complete this question by entering your answers in the tabs below. Req 1A Reg 1B Req 2A Reg 2B Req3 Determine the price of the bonds at January 1, 2021. (Enter your answer in whole dollars.) Price of the bonds Req 1B > Rec 1A Chapter Req 1A Req 1B Req 2A Req 2B Reg 3 Prepare the journal entry to record their issuance by Instaform. (If no entry is required for a tra required" in the first account field. Enter your answers in whole dollars.) View transaction list Journal entry worksheet 1 Record the issuance of bonds by Instaform. Note: Enter debits before credits. Event General Journal Debit Credit 1 Record entry Clear entry View general journal Saved Chapter 14 Homework (Part A) On January 1, 2021, Instaform, Inc., issued 12% bonds with a face amount of $55 million, dat (20 years). The market yield for bonds of similar risk and maturity is 14%. Interest is paid sen PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provide Required: 1-a. Determine the price of the bonds at January 1, 2021. 1-b. Prepare the journal entry to record their issuance by Instaform. 2-a. Assume the market rate was 11%. Determine the price of the bonds at January 1, 2021. 2-b. Assume the market rate was 11%. Prepare the journal entry to record their issuance by 3. Assume Broadcourt Electronics purchased the entire issue in a private placement of the prepare the journal entry to record the purchase by Broadcourt. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2A Req 2B Req3 Assume the market rate was 11%. Determine the price of the bonds at January 1, 2021. (Ente Price of the bonds Saved Chapter 14 Homework (Part A) Reg 1A Reg 1B Reg 2A Req 2B Req3 Assume the market rate was 11%. Prepare the journal entry to record their issuance by Instafo transaction/event, select "No journal entry required" in the first account field. Enter your answe View transaction list Journal entry worksheet Chapter 14 Homework (Part A) * Saved Req 1A Reg 1B Reg 2A Req 2B Reg 3 Assume Broadcourt Electronics purchased the entire issue in a private placement of the bonds. Using the journal entry to record the purchase by Broadcourt. (If no entry is required for a transaction/eve required" in the first account field. Enter your answers in whole dollars.) View transaction list Journal entry worksheet Record the purchase of bonds by Broadcourt Note: Enter debits before credits Event General Journal Debit Credit 1 Record entry Clear entry View general Journal Week 3 Discu....docx