Citywide Company issues bonds with a par value of $85,000. The bonds mature in seven years and pay 10% annual interest in semiannual payments. The annual market rate for the bonds is 8%. (Table B.1. Table 8.2. Table 8.3. and Table 8.4) (Use appropriate factor(s) from the tables provided.) 1. Compute the price of the bonds as of their issue date. 2. Prepare the journal entry to record the bonds' issuance. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the price of the bonds as of their issue date. (Round Intermediate calculations to the nearest dollar amourt.) Table Values are Based on: n 70% Tablo Value Amount Present Value Cash Flow Par (maturity) value Interest (annuity) Price of bonds > x x $ 85,000 Citywide Company issues bonds with a par value of $85,000. The bonds mature in seven years and pay 10% annual interest in semiannual payments. The annual market rate for the bonds is 8%. (Table B1. Table B.2. Table 8.3. and Table 8.4) (Use appropriate factor(s) from the tables provided.) 1. Compute the price of the bonds as of their issue date. 2. Prepare the journal entry to record the bonds' issuance. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entry to record the bonds Issuance. (Round intermediate calculations to the nearest dollar amount.) Transaction No Debit Credit 1 1 General Journal Cash Premium on bonds payable Bonds payable 85,000