On January 1, 2021, NFB Visual Aids issued $800,000 of its 20-year, 10% bonds. The bonds were priced to yield 12%. Interest is payable semiannually on June 30 and December 31. NFB Visual Aids records interest expense at the effective rate and elected the option to report these bonds at their fair value. On December 31, 2021, the fair value of the bonds was $686,000 as determined by their market value in the over-the-counter market. General (risk-free) interest rates did not change during 2021. (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 to 4. Prepare the necessary Journal entries. Req 1A Req 13 to 4 Determine the price of the bonds at January 1, 2021. (Round final answer to the nearest whole dollars.) Price of the bonds Req 1A Req 13 to 4 Prepare the necessary Journal entries. (If no entry is required for a transaction/event, select "No jou account field. Round your intermediate calculations and final answers to the nearest whole dollar.) View transaction list Journal entry worksheet