On January 1, 2017, Collins Copy Machine Company issued thirty $1,000 face-value bonds with a stated annual rate of 10 percent that matures in ten years. Interest is paid semiannually on June 30 and December 31. The bonds were issued at face value.

a. Prepare the entire to record the issuance of these bonds on January 1, 2017.

b. Prepare all the entries associated with these bonds during 2017 (excluding the entry to record the issuance).

c. Compute the balance sheet value of the bond liability as of December 31, 2017.

d. Compute the present value of the bonds remaining cash flows as of December 31, 2020, using the effective rate at issuance.