Exercise 10-14 Tarawa Limited issued $730,000 of 10-year, 5% bonds on January 1, 2018, when the market interest rate was 6%. Tarawa received $675,700 when the bonds were issued. Interestis payable semi-annually on July 1 and January 1. Tarawa has a December 31 year end. Record the issue of the bonds on January 1. (Credit account titles are automatically indented when the amount is entered. Do not indent manaly) Debit Credit Date Account Titles and Explanation 675700 Jan. 1 Cash 675700 Bonds Payable SHOW LIST OF ACCOUNTS LINK TO TEXT Record the payment of Interest on July 1. (Round answers to decimal places. e. 9. 5.273. Credit account titles are automatically indented with the amount is entered. Do not Indent manually.) Date Account Titles and Explanation Debit Credit Suly 1 Interest Expense Record the accrual of interest on December 31. (Round answers to 0 decimal places, e.g. 5,275. Credit account titles are automatically indevoted when the amount entered. Do not indent manually.) Debil Credit Date Account Titles and Explanation Dec. 31 Interest Expense Bonds Payable Interest Payable SHOW LIST OF ACCOUNTS LINK TO TEXT Prove the amount of cash received when the bonds were sold by determining the bonds present value (Issue price) on January 1, 2018. Prove the carrying amount of the band one year later, by determining the present value of the bonds at that time. (Round answers to decimal places... 5.275.) 5 Bonds' present value issue price) on January 1, 2018 Present value of the bonds