Help Save & Exit Submit McWherter Instruments sold $550 million of 10% bonds, dated January 1, on January 1, 2018. The bonds mature on December 31, 2037 (20 years). For bonds of similar risk and maturity, the market yield was 12% Interest is paid semiannually on June 30 and December 31 Blanton Technologies, Inc. purchased $550,000 of the bonds as a long-term investment (FV of $1 PV of $1. FVA of $1. PVA of $1. FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 1. Determine the price of the bonds issued on January 1, 2018 2. Prepare the journal entries to record (a) their issuance by McWherter and (b) Banton's investment on January 1 2018 3. Prepare the journal entries by (a) McWherter and (b) Blanton to record interest on June 30, 2018 at the effective rate) 4. Prepare the journal entries by (a) McWherter and (b) Blanton to record interest on December 31, 2018 at the effective rate) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Determine the price of the bonds issued on January 1, 2018. (Enter your answer in whole dollars.) Bond price Required Required 2 > Help Save & Exit Submit Journal entry worksheet Record the issue of bonds payable by McWherter Note: Enter detits before credits Date General Journal Debit Credit January 01, 2018 Record entry Clear entry View general Journal JUUNI elli y Worksheet Record the bond investment by Blanton. Note: Enter debits before credits Date General Journal Debit Credit January 01, 2018 Record entry Clear entry View general Journal Journal entry worksheet Help Save 3 Exi Record the interest expense for McWherter Note: Enter debits before credits Date June 30, 2018 General Journal Debit Credit Record entry Clear entry View general Journal Journal entry worksheet 3 Record the interest revenue for Blanton. Note: Enter debits before credits Debit Credit Date June 30, 2018 General Journal Clear entry Record entry View general Journal Record the interest expense for McWherter Note: Enter debits before credits Date December 31, 2018 General Journal Debit Credit Record entry Clear entry View general Journal Record the interest revenue for Blanton. Note Enter debits before credits Date General Journal Debit Credit December 31, 2018 Record entry Clear entry View general journal