January $1,2012$ Xray Corp is issuing $250000$ of $7\%4-$year bonds with semiannual interest

payments. Potential bond investors want a rate of $9\%$ interest $($market Rate$).$

Compute the market price $($present value$)$ of the bonds and the "Closing Price $\%$ of Face".

Journalize the issuance of the Bonds with a proper explanation with all transaction details: Explanation

should include all data needed to calculate the bond value.

Sheet$1$