Investee company issued 20% bonds dated January 1, 2021, with a face amount of $20 million. The bonds mature in 10 years. For bonds of similar risk and maturity, the market yield is 10% Interest is paid semiannually on June 30 and December 31. Determine the price of the bonda Step 1: Compare the coupon rate and the market rate. Should the bond sell at a discount or at a premium? Step 2: Calculate how much each interest payment should be Step 3: Calculate the present value of the face amount Step 4: Calculate the present value of the interest payments. Step 3: Add the two together. This is the price of the bond. Step 6: Prepare the journal entry to record bond issuance. Date and describe the entry Step 7: Prepare the journal entry to record the June 30, 2021 interest payment. Date and describe the entry Step 8: What is the carrying amount of the bonds after the June 30, 2021 interest payment