On January 1, 2017, Whitefeather Industries issued 900, $1,000 face value bonds. The bonds have acn) 10-year life and pay interest at the rate of 10%. Interest is paid semiannually on July 1 and January 1. The market rate of interest on January 1 was 10%. Use the present value tables that may be found by clicking on the present value table links above. Round your answer to the nearest dolla Required: 1. Calculate the issue price of the bonds and record the issuance of the bonds on January 1, 2017. Round your final answer to the nearest dollar. 900,000 Feedback Identify and analyze the effect of the issuance of the bonds on January 1, 2017 Activity Financing Accounts Cash Increase, Bonds Payable Increase , Balance Sheet only Statement(s) Feedback How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry and leave the amount box blank. If the effect on a financial statement item is negative, i.e, a decrease, be sure to enter the answer with a minus sign. Balance Sheet Income Statement Stockholders Net Assets Liabilities + Equity Revenues Expenses Income Cash Bonds Payable No Entry No Entry Feedback 2. How would the issue price have been affected if the market rate of interest had been higher than 10%. Bonds would be issued at a discount. Feedback 3. Identify and analyze the effect of the payment of interest on July 1, 2017. Activity Operating Accounts Cash Decrease, Interest Expense Increase Statement(s) Balance Sheet and Income Statement Foodback How does this entry affect the accounting equation? Ir a financial statement item is not affected, select "No Entry" and leave the amount box blank. If the effect on a financial statement item is negative, i.e, a decrease, be sure to enter the answer with a minus sign. Balance Sheet Income Statement Stockholders Net Assets = Liabilities + Equity Revenues Expenses = Income Cash No Entry No Entry Interest Expense Feedback 4. Calculate the amount of interest accrued on December 31, 2017. If required, round your answer to the nearest dollar