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3. ABC company issues the following bonds: Issue date - January 1, 2020 Maturity date - January 1, 2024 Par value -- $50,000 Market interest

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3. ABC company issues the following bonds: Issue date - January 1, 2020 Maturity date - January 1, 2024 Par value -- $50,000 Market interest rate at time of issue -10% annually Stated interest rate - 12% annually Interest paid -6% semiannually Please calculate the selling price of the bonds, and make the necessary journal entry for July 1, 2020

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