Exercise 10-18A (Algo) Computing bond interest and price; recording bond issuance LO C2 Citywide Company issues bonds with a par value of $75,000 The bonds mature in five years and pay 10% annual interest in semiannual payments. The annual market rate for the bonds is 8% (able B.1. Table 8.2. Table B.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 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: n. i= Cash Flow Table Value Amount Present Value Par (maturity) value Interest (annuity) Price of bonds $ 0 Required 2 > 0 3 Journal entry worksheet Record the issuance of the bonds for cash. ok Note: Enter debits before credits. Transaction General Journal Debit Credit nces 1 Record entry Clear entry View general journal