c. Journalize the payment of interest and amortization on December 31, 2018. Date Accounts and Explanation Debit Credit 2018 Dec. 31 d. Retirement of the bond at maturity on December 31, 2037, assuming the last interest payment has already been recorded. Date Accounts and Explanation Debit Credit 2037 Dec. 31 Choose from any list or enter any number in the input fields and then continue to the next question. Requirements 1. 2. 3. If the market interest rate is 7% when NCU issues its bonds, will the bonds be priced at face value, at a premium, or at a discount? Explain. If the market interest rate is 9% when NCU issues its bonds, will the bonds be priced at face value, at a premium, or at a discount? Explain. The issue price of the bonds is 92. Journalize the following bond transactions: Issuance of the bonds on January 1, 2018. b. Payment of interest and amortization on June 30, 2018. Payment of interest and amortization on December 31, 2018. d. Retirement of the bond at maturity on December 31, 2037, assuming the last interest payment has already been recorded. a. C. Print Done On January 1, 2016. Nurses Credit Union (NCU) issued 8%, 20-year bonds payable with face value of $600,000. The bonds pay interest on June 30 and December 31. Read the fauiration Requirement 1. If the market interest rate is 7% when NCU issues its bonds, will the bonds be priced at face value, at a premium, or at a discount? Explain. The 8% bonds issued when the market interest rate is 7% will be priced a a premium. They are attractive in this market, so investors will pay more than face value to acquire them. Requirement 2. If the market interest rate is 9% when NCU issues its bonds, will the bonds be priced at face value, at a premium, or at a discount? Explain. The 8% bonds issued when the market interest rate is 9% will be priced at a discount They are unattractive in this market, so investors will pay less than face value to acquire them. Requirement 3. The issue price of the bonds is 92. Journalize the bond transactions. (Assume bonds payable are amortized using the straight-line amortization method. Record debits first, then credits. Select explanations on the last line of the journal entry. Round your answers to the nearest whole dollar) a. Journalize the issuance of the bonds on January 1, 2018 Date Accounts and Explanation Debit Credit 2018 Jan. 1 b. Journalize the payment of interest and amortization on June 30, 2018. Date Accounts and Explanation Debit Credit 2018 Jun. 30 Choose from any list or enter any number in the input fields and then continue to the next