a LaTanya Corporation is planning to issue bonds with a face value of $100,000 and a coupon rate of 8 percent. The bonds mature in seven years. Interest is paid annually on December 31. All of the bonds will be sold on January 1 of this year. Required: Compute the issue (sales) price on January 1 of this year for each of the following independent cases (show computations): a. Case A: Market interest rate (annual): 8 percent. b. Case B: Market interest rate (annual): 6 percent. c. Case C: Market interest rate (annual): 9 percent. Part 1: For cases B and C assume that the LaTanya Corporation uses the effective interest method to amortize the Bond Premium and Bond Discount account. Given this assumption (1) prepare journal entries to issue the bonds with and without Discount/Premium account; (2) prepare the journal entries to record payment of interest and interest expense on 12/31 assuming effective interest method of bond discount/premium amortization; and (3) Show how bonds payable will be reported on the 12/31 year 1 and year 2 balance sheets. Part 2: Prepare journal entries assuming the following: (1) Assume that for Case B bonds are retired at the end of the year 2 for $115,000 cash; (2) Assume that for Case B bonds are retired at the end of the year 2 for $105,000 cash. Part 3: (1) Assume for that Case C bonds are retired at the end of year 2 for 98,000 cash; (2) Assume for that Case C bonds are retired at the end of year 2 for 95,000 cash