On January 1, 2021, Instaform, Inc., issued 10% bonds with a face amount of $50 million, dated January 1. The bonds mature in 2040 (20 years). The market yield for bonds of similar risk and maturity is 12%. Interest is paid semiannually (EV of $1. PV of $1. FVA of $1. PVA of $1, EVAD of $1 and PVAD of S1) (Use appropriate factor(s) from the tables provided.) Required: 1-a. Determine the price of the bonds at January 1, 2021. 1-b. Prepare the journal entry to record their issuance by Instaform. 2-a. Assume the market rate was 9%. Determine the price of the bonds at January 1, 2021. 2-b. Assume the market rate was 9%. Prepare the journal entry to record their issuance by Instaform 3. Assume Broadcourt Electronics purchased the entire issue in a private placement of the bonds. Using the data in requirement 2. prepare the journal entry to record the purchase by Broadcourt. Complete this question by entering your answers in the tabs below. Req 1A Req 18 Req 2A Req 2B Req 3 Determine the price of the bonds at January 1, 2021. (Enter your answer in whole dollars.) Price of the bonds Journal entry worksheet < 1 Record the issuance of bonds by Instaform. Note: Enter debits before credits. Event 1 General Journal Debit Credit Record entry Clear entry On January 1, 2021, Instaform, Inc., issued 10% bonds with a face amount of $50 million, dated January 1. The bond. (20 years). The market yield for bonds of similar risk and maturity is 12%. Interest is paid semiannually. (FV of $1. PV PVA of $1. FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 1-a. Determine the price of the bonds at January 1, 2021 1-b. Prepare the journal entry to record their issuance by Instaform. 2-a. Assume the market rate was 9%. Determine the price of the bonds at January 1, 2021 2-b. Assume the market rate was 9%. Prepare the journal entry to record their issuance by Instaform. 3. Assume Broadcourt Electronics purchased the entire issue in a private placement of the bonds. Using the data in re prepare the journal entry to record the purchase by Broadcourt Complete this question by entering your answers in the tabs below. Req 1A Req 18 Req 2A Req 28 Req 3 Assume the market rate was 9%. Determine the price of the bonds at January 1, 2021. (Enter your answer in whole dollars.) Price of the bonds < Req 1B Req 2B > Journal entry worksheet 1 Record the issuance of bonds by Instaform. Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general journal ew transaction list Journal entry worksheet < 1 Record the purchase of bonds by Broadcourt. Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry