On January 1, 2021, Instaform, Inc., issued 10% bonds with a face amount of $54 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. (FV of $1, PV of $1, FVA of $1, 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 requirement 2, prepare the journal entry to record the purchase by Broadcourt.

Complete this question by entering your answers in the tabs below. Determine the price of the bonds at January 1,2021 . (Enter your answer in whole dollars.) Journal entry worksheet Record the issuance of bonds by Instaform. Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. Assume the market rate was 9%. Determine the price of the bonds at January 1,2021 . (Enter your answer in w) Assume the market rate was 9%. Prepare the journal entry to record their issuance by Instaform. (If no entr transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole d Journal entry worksheet Note: Enter debits before credits. Assume Broadcourt Electronics purchased the entire issue in a private placement of the bonds. Using the the journal entry to record the purchase by Broadcourt. (If no entry is required for a transaction/event, s in the first account field. Enter your answers in whole dollars.) Journal entry worksheet Note: Enter debits before credits