6 On January 1, 2021, Instaform, Inc., issued 10% bonds with a face amount of $48 million, dated January 1. The bonds mature in 2040 a (20 years). The market yield for bonds of similar risk and maturity is 12%. Interest is paid semiannually. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) 1.66 points 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 9%. Determine the price of the bonds at January 1, 2021. 2-b. Assume the market rate was 9%. 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. eBook . 6 View transaction list 1.66 points Journal entry worksheet Record the purchase of bonds by Broadcourt. eBook Print Note: Enter debits before credits. Event General Journal Debit Credit References 1 Record entry Clear entry View general journal