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McWherter Instruments sold $470 million of 10% bonds, dated January 1, on January 1, 2018. How do I figure out 1-4? McWherter Instruments sold $430

McWherter Instruments sold $470 million of 10% bonds, dated January 1, on January 1, 2018. How do I figure out 1-4?

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McWherter Instruments sold $430 million of1096 bonds. dated January 1. on January 1, 2018. The bonds mature on December 31. 2037 [20 years]. For bonds ofsimilar risk and maturity. the market yield was 12%. Interest is paid semiannually on June 30 and December 31. Blanton Technologies. Inc.. purchased $470,000 of the bonds as a long-term investment. {FV of $1. PV of _$1. FVA of $1. PVA of $1. FVAD of $1 and PVAD of $1] {Use appropriate fectoris) from the tables provided.) Required: 1. Determine the price of the bonds issued on January 1. 201B. 2. Prepare thejournal entries to record (a) their issuance by McWherter and {b} Blanton's investment on January 1. 201B. 3. Prepare the journal entries by (a) McWherter and (b) Blanton to record interest on June 30. 2018 (at the effective rate}. 4. Prepare thejournal entries by {a} McWherter and (b) Blanton to record interest on December 31, 2018 [at the effective rate]

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