McWherter Instruments sold $650 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 Blanton Technologies, Inc., purchased $650,000 of the bonds as a FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) on June 30 and December 31 long-term investment. (FV of $1, PV of $1, FVA of $1, PVA of $1, 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 Complete this question by entering your answers in the tabs below. Required 3 Required 4 Required 1 Required 2 Prepare the journal entries to record (a) their issuance by McWherter and (b) Blanton's investment on January 1, 2021. (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 Record the issue of bonds payable by McWherter. 1 Record the bond investment by Blanton. 2 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 4 Required 3 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 Record the interest expense for McWherter. 1 Record the interest revenue for Blanton. 2 Complete this question by entering your answers in the tabs below. 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 X: Record the interest expense for McWherter. 1 Record the interest revenue for Blanton. 2