Exercise $10-18$A $($Algo$)$ Computing bond interest and price; recording bond issuance LO C$2$

$01$:$11$:$47$

Citywide ticompany issues bonds with a par value of $$83,000.$ The bonds mature in nine years and pay $11\%$ annual interest in semiannual payments. The annual market rate for the bonds is $10\%.($Table B$\mathrm{.}1,$ Table B$\mathrm{.}2,$ Table B$\mathrm{.}3,$ and Table B$\mathrm{.}4)$

Note: Use appropriate factor$($s$)$ from the tables provided.

Skipped

Compute the price of the bonds as of their issue date.

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.

Note: Round intermediate calculations to the nearest dollar amount.

References

Table Values are Based on:

$\backslash$table$[[,12,,,,,,],[,5\mathrm{.}5\%,,,,,,],[$Cash Flow,Table Value,,,ount,,,Value$],[$Par $($maturity$)$ value,$5\mathrm{.}5000,x,$$$,83,000,=,$$$,456,500],[$Interest $($annuity$),0\mathrm{.}4356,x,$$$,83,000,=,,36,155],[$Price of bonds,$$,492,655]]$

Required $1$

Required $2$