On January 1, 2018, Engineers Credit Union (ECU) issued 8%, 20-year bonds payable with funce value of $200,000. The bonds pay interest on June 30 and December 31. Read the requirements Requirement 1. the market interest rate is 6% when ECU issued its bonds, will the bonds be priced at face value, at a premium, or at a discount? Explain. The 8% bonds issued when the market interest rate is 8% will be prioed at a premium They are attractive in this market, so investors will pay more than face value to ac Requirement 2. If the market interest rate is 9% when ECU issues its bonds, will the bonds be priced at face value, at a premium, or at a discount? Explain. The 8% bondo issued when the market interest rate is 9% will be priced at a discount. They are unattractive in this market, so investors will pay less than face value Requirement 3. The issue price of the bands is 97. Journalize the bond transactions. (Assume bonds payablo are amortized using the straight-line amortization method. Recore journal entry. Round your answers to the nearest whole dollar.) a. Joumalize the issuance of the bonds on January 1, 2018 to ad Dato Accounts and Explanation Debit Credit 2018 Jan. 1 Cash Discount on Bonds Payable Bonds Payable Issued bonds at a discount Choose from any list or enter any number in the input fields and then click Check