Notes Payable January 1, 2014, Fox Corporation signed an $80,000, four-year,4% note. The loan On required Fox to make payments annually on December 31 of $20,000 principal plus interest. Record a new Note Payable Date Debit Credit Account Record the first Payment of Principal and Interest on the Note Payable Date Account Debit Credit Bonds Payable Determine whether the following bonds payable will be issued at face value, at a premium, or at a discount. A 4% bonds payable is issued when the market interest rate = 2%. A 4% bonds payable is issued when the market interest rate-496. A 4% bonds payable is issued when the market interest rate = 6%. Bond's Stated Interest Rate Market Interest Rate Issue Price of Bonds Payable 4% 4% 4% 2%. 496. 6%. ge