Account for Issuing Bonds On June 1, 2021, Priyanka Industries issued $300,000 of 10-year, 9% bonds. Interest is payable semiannually on November 30 and May 31. Market (effective) interest rate is 8%. (Use appropriate factor(s) from the tables provided.) Present Value-Single Table (PVS tab) Present Value Annuity Table (PVA tab) Future Value Single Table (FVS tab) Future Value Annuity Table (FVA tab) 1. Compute the present value of the bonds on June 1, 2021. (Round dollar amounts to the nearest dollar.) A. Calculate the amount of the semiannual interest payment on the bonds. (Enter the time factor in decimal form.) Rate X Interest Payment Principal 3,000,000 Time X B. Calculate the present value of the bonds (how much cash you'll get to borrow). Present value of the interest payments: Use Present or Interest rate Future Value Single Payment Number of per interest table or Annuity interest periods period Factor Payment amount Present or Future Value 3 Present value of the face value: Use Present or Future Value Single Payment table or Annuity Number of interest periods Interest rate per interest period Payment amount 0 Present or Future Value Factor Use Present or Future Value Single Payment Number of table or Annuity interest periods Interest rate per interest period Factor Payment amount Present or Future Value Present value (cash value) of the bonds: Record the journal entry for the issuance of the bonds. Start each entry on a starred row. General Journal Date dub Debit count Credit Record the journal entries for the first two interest payments on the bonds. (Use the effective interest amortization method.) Start each entry on a starred row. General Journal Date ha Debit Credit Prepare the journal entry for the maturity date of the bonds. (Assume that the final interest payment has already been recorded.) Start each entry on a starred row. General Journal Date Debit Credit ho che Hints