Journal entry worksheet Record the issuance of bonds by Instaform. Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. Assume the market rate was 12%. Determine the price of the bonds at January 1, 2024. Note: Enter your answer in whole dollars. Assume Broadcourt Electronics purchased the entire issue in a private placement of the bonds. Using the data in requirement 2, prepare the fournal entry to record the purchase by Broadcourt. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars. Journal entry worksheet On January 1,2024 , Instaform, Incorporated, issued 14% bonds with a face amount of $50 million, dated January 1. - The bonds mature in 2043 ( 20 years). - The market yield for bonds of similar risk and maturity is 16%. - Interest is paid semiannually. Required: 1-a. Determine the price of the bonds at January 1,2024. 1.b. Prepare the journal entry to record their issuance by Instaform. 2-a. Assume the market rate was 12%. Determine the price of the bonds at January 1, 2024. 2-b. Assume the market rate was 12%. Prepare the journal entry to record their issuance by Instaform. 3. Assume Broadcourt Electronics purchased the entire issue in a private placement of the bonds. Using the data in requiremen prepare the journal entry to record the purchase by Broadcourt. Note: Use tables, Excel, or a financial calculator. (FV of \$1. PV of \$1. EVA of \$1. PVA of \$1. FVAD of \$1 and PVAD of \$1) Complete this question by entering your answers in the tabs below. Determine the price of the bonds at January 1, 2024. Note: Enter your answer in whole dollars. Assume the market rate was 12%. Prepare the joumal entry to record their issuance by Instaform. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars. Journal entry worksheet Record the issuance of bonds by Instaform. Note: Enter debats before credits
