Journal Entry 1: Record the bond issuance by the Bradford Company.

Journal Entry 2: Record the interest on June 30, 2016 (at the effective rate)

Journal Entry 3: Record the interest on December 31, 2016 (at the effective rate)

The Bradford Company issued 10% bonds, dated January 1, with a face amount of $80 million on January 1, 2016. The bonds mature on December 31, 2025 (10 years). For bonds of similar risk and maturity, the market yield is 12%. Interest is paid semiannual on June 30 and December 31. (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 at January 1, 2016. (Enter your answers whole dollars.) Table values are based on Cash Flow Amount Present Value Interest Principal Price of bonds 2. to 4. Prepare the journal entry to record their issuance by The Bradford Company on January 1, 2016, interest on June 30, 2016 and interest on December 31, 2016 (at the effective rate). (Enter your answers in whole dollars. If no journal entry is required for a transaction, select "No entry required" in the first account field.)