On January 1, 2018, Watch Works incorporated (WWi) issued $79,000 par value, 10%, five.year bonds that mature on December 31,2022 . WWi will pay nterest semiannually on June 30 and December 31 . On the date WWI issued the bonds, the market rate of interest was 4%. The company's fiscal year ands on December 31. What is the issue price of this bond? Table Method STEP 1. Present Value of interest Payment: STEP 2- Present Value of Par Value: iswe Price of Bond Fresent Value of interest Payment (5tep 1) Pretent Value of Par Value (Step 7) Record the journal entry for the issuance of the bonds January 1,2018 Accounts Debit kecord the journal entry for the issuance of the bonds