Exercise 10-17A Computing bond interest and price; recording bond issuance LO C2 Citywide Company issues bonds with a par value of $78,000. The bonds mature in eight years and pay 11% annual interest in semiannual payments. The annual market rate for the bonds is 8%. (Table B.1, Table B.2, Table B.3, and Table B.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 amount.) Table Values are Based on: 16 i=1 4.0% Cash Flow Table Value Par (maturity) value 0.5339X Interest (annuity) 11.6523 Price of bonds Amount $ 78,000 Present Value $ 41,644 = x $ 41,644 Required 1 Required 2 > Exercise 10-17A Computing bond interest and price; recording bond issuance LO C2 Citywide Company issues bonds with a par value of $78,000. The bonds mature in eight years and pay 11% annual interest in semiannual payments. The annual market rate for the bonds is 8%. (Table B.1, Table B.2, Table B.3, and Table B.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.) View transaction list View journal entry worksheet No Transaction Debit Credit General Journal Cash Bonds payable Premium on bonds payable 78,000 Required 1 Required 2 >