Exercise 9-67 (Algorithmic) Bond Premium and Discount Markway Inc. is contemplating selling bonds. The issue is to be composed of 750 bonds, each with a face amount of $900. Required: 1. Calculate how much Markway is able to borrow if each bond is sold at a premium of $30. 2. Calculate how much Markway is able to borrow if each bond is sold at a discount of $10. 3. Calculate how much Markway is able to borrow if each bond is sold at 92% of par. 4. Calculate how much Markway is able to borrow if each bond is sold at 103% of par. 5. Assume that the bonds are sold for $875 each. Prepare the entry to recognize the sale of the 750 bonds. Record issuance of bonds at discount 5. Assume that the bonds are sold for $875 each. Prepare the entry to recognize the sale of the 750 bonds. Record issuance of bonds at discount 6. Assume that the bonds are sold for $1,050 each. Prepare the entry to recognize the sale of the 750 bonds. Record issuance of bonds at premium