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National Orthopedics Companu Issued 8% bonds, dated January 1, with a face amount of $550,000 on January 1, 2024. .The bonds mature on December

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National Orthopedics Companu Issued 8% bonds, dated January 1, with a face amount of $550,000 on January 1, 2024. .The bonds mature on December 31, 2027 (4 years). For bonds of similar risk and maturity the market yield was 10%. Interest is paid semiannually on June 30 and December 31. Required: 1. Determine the price of the bonds at January 1, 2024. 2. Prepare the journal entry to record their issuance by National on January 1, 2024. 3. Prepare an amortization schedule that determines interest at the effective rate each period. 4. Prepare the journal entry to record interest on June 30, 2024. 5. Prepare the appropriate journal entries at maturity on December 31, 2027 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. Required 1 Required 2 Required 3 Required 4 Determine the price of the bonds at January 1, 2024. Required 5 Note: Round final answers to the nearest whole dollar. Round your percentage answer to one decimal place. Table values are based on: 4.0 % Cash Flow Amount Present Value Interest Principal Price of bonds Required 2 >

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