Carla Vista Corp. issued $570,000 of 3-year, 6% bonds on May 1, 2021. The market interest rate when the bonds were issued was 896. Interest is payable quarterly. Click here to view the factor table. Present Value of 1 Click here to view the factor table. Present Value of an Annuity of 1 (a) Your Answer Correct Answer Your answer is correct What is the number of interest payments that will be made over the life of the bond? Number of interest payments 12 payments How much interest will be paid each period? Interest 8.550 Question Part Score 0/2 Determine the price of the bond. (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round final answer to 2 decimal places, eg: 15.75.) Price of the bond $ Cullumber Company issued $312,000 of 9%, 10-year bonds on January 1, 2021, at face value. Interest is payable annually on January 1, 2022 (a) Your Answer Correct Answer Your answer is correct. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit Date Jan. 1, 2021 Cash 312000 Bonds Payable 312000 (To record Issuance of bonds.) Solution Assistance Used Interest Expense - ($312,000 x 9%) - $28,080 List of Accounts Attempts: 1 of 1 usec Question Part Score 1.60 Prepare the journal entry to record the payment of interest on January 1, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account tities and enter for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 1, 2022 (To record interest payment.)