McWherter Instruments sold $400 million of 8% bonds, dated January 1, on January 1, 2021. The bonds mature on December 31, 2040 (20 years). For bonds of similar risk and maturity, the market yield was 10%. Interest is paid semiannually on June 30 and December 31. Blanton Technologies, Inc., purchased $400,000 of the bonds as a long-term investment. (EV of $1. PV of $1. EVA of $1. PVA of $1. EVAD 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, 2021 2. Prepare the journal entries to record (a) their issuance by McWherter and (b) Blanton's investment on January 1, 2021. 3. Prepare the journal entries by (a) McWherter and (b) Blanton to record interest on June 30, 2021 (at the effective rate). 4. Prepare the journal entries by (a) McWherter and (b) Blanton to record interest on December 31, 2021 (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, 2021. (Enter your answer in whole dollars.) Bond price Required 1 Required 2 > on January 1, 2021. (If required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calc Enter your answers in whole dollars.) View transaction list Journal entry worksheet 1 2 Record the issue of bonds payable by McWherter. Note: Enter debits before credits. Date January 01, 2021 General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet < Record the bond investment by Blanton. Note: Enter debits before credits. Date January 01, 2021 General Journal Debit Credit Record entry Clear entry View general journal < Required 1 Required 3 > Required 1 Required 2 Required 3 Required 4 Prepare the journal entries by (a) McWherter and (b) Blanton to record interest on June 30, 2021 (at the effective rate). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Enter your answers in whole dollars.) View transaction list Journal entry worksheet 2 Record the interest expense for McWherter. Note: Enter debits before credits. Date June 30, 2021 Debit Credit General Journal Record entry Clear entry View general journal Prepare the journal entries by (a) McWherter and (b) Blanton to record interest on June 30, 2021 (at the effective rate). (If n required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calcula Enter your answers in whole dollars.) View transaction list Journal entry worksheet Record the interest revenue for Blanton. Note: Enter debits before credits. Date June 30, 2021 Debit Credit General Journal Record entry Clear entry View general journal Required 1 Required 2 Required 3 Required 4 Prepare the journal entries by (a) McWherter and (b) Blanton to record interest on December 31, 2021 (at the effective rate). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Enter your answers in whole dollars.) View transaction list Journal entry worksheet 2 Record the interest expense for McWherter. Note: Enter debits before credits. Date December 31, 2021 Debit Credit General Journal Record entry Clear entry View general journal < Required 3 Required 4> Required 1 Required 2 Required 3 Required 4 Prepare the journal entries by (a) McWherter and (b) Blanton to record interest on December 31, 2021 (at the effective rate). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Enter your answers in whole dollars.) View transaction list Journal entry worksheet 2 Record the interest revenue for Blanton. Note: Enter debits before credits. Date December 31, 2021 General Journal Debit Credit Record entry Clear entry View general journal