On January 1, 2018, Bishop Company issued 10% bonds dated January 1, 2018, with a face amount of $19.3 million. The bonds mature in 2027 (10 years). For bonds of similar risk and maturity, the market yield is 12%. Interest is paid semiannually on June 30 and December 31. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1and PVAD of $1) (Use appropriate factor(s) from the tables provided. Round your intermediate calculations to the nearest whole dollar.) Required: 1. Determine the price of the bonds at January 1, 2018. 2. Prepare the journal entry to record the bond issuance by Bishop on January 1, 2018. 3. Prepare the journal entry to record interest on June 30, 2018, using the effective interest method. 4. Prepare the journal entry to record interest on December 31, 2018, using the effective interest method.

1. Determine the price of the bonds at January 1, 2018. (Round your answer to 2 decimal places.)

bond value

2. Prepare the journal entry to record the bond issuance by Bishop on January 1, 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to 2 decimal places.)

Journal entry worksheet

• Record the issuance of bonds by Bishop.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
January 01, 2018

Journal entry worksheet

• 3. Record the interest on June 30, 2018, using the effective interest method.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
June 30, 2018

journal entry worksheet

• 4. Record the interest on December 31, 2018, using the effective interest method.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
December 31, 2018