At the beginning of the yeat, THE Company issues 8%,3-year, $500,000 bonds that pay interest semlannually each June 30 and December 31 . On the issue date, the annual market rate of interest is 10%. The following information is taken from present value tables. From B. 3 - Present value of an annuity (series of payments) for 3 periods at 4% From B. 3 ..Present value of an annuity (series of payments) for 3 periods at 5% From B. 3 -Present value of an annuity (series of payments) for 6 periods at 4% From B. 3 -Present value of an annuity (series of payments) for 6 periods at 5% From B. 1-Present value of 1 (single sum) due in 3 periods at 4%0.8890 From B.1-.-Present value of 1 (single sum) due in 3 periods at 5%0.8638 From B. 1-Present value of 1 (single sum) due in 6 periods at 4%0.7903 From B.1-Present value of 1 (single sum) due in 6 periods at 5%0.7462 Show your work in the boxes provided in order to receive partial credit when appropriate. A (Bnts.) Compute the price of the bonds on their issue date. S 2.7751 2.7232 5.2421 5.0757 (ante) I Prenare the January 1 journal entry to record the bonds' issuance. 10pts.)Prepare the journal entry for the first semi-annual interest payment using the "effective" interest method. At the beginning of the yeat, THE Company issues 8%,3-year, $500,000 bonds that pay interest semlannually each June 30 and December 31 . On the issue date, the annual market rate of interest is 10%. The following information is taken from present value tables. From B. 3 - Present value of an annuity (series of payments) for 3 periods at 4% From B. 3 ..Present value of an annuity (series of payments) for 3 periods at 5% From B. 3 -Present value of an annuity (series of payments) for 6 periods at 4% From B. 3 -Present value of an annuity (series of payments) for 6 periods at 5% From B. 1-Present value of 1 (single sum) due in 3 periods at 4%0.8890 From B.1-.-Present value of 1 (single sum) due in 3 periods at 5%0.8638 From B. 1-Present value of 1 (single sum) due in 6 periods at 4%0.7903 From B.1-Present value of 1 (single sum) due in 6 periods at 5%0.7462 Show your work in the boxes provided in order to receive partial credit when appropriate. A (Bnts.) Compute the price of the bonds on their issue date. S 2.7751 2.7232 5.2421 5.0757 (ante) I Prenare the January 1 journal entry to record the bonds' issuance. 10pts.)Prepare the journal entry for the first semi-annual interest payment using the "effective" interest method