Assuming Kristi corporation issued a 10%, $1M bond due in 5 years. The bond sold on January 1, 2018, to yield 8%. The company pays interest on June 30th and December 31st

1. Determine the issue price of the bond.

2. Record the necessary journal entries for 2018 assuming the company's fiscal year end is 12/31.

3. Record the necessary journal entries for 2018 assuming the company's fiscal year end is 10/31.