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Pharoah issued $420,000 of 5%, 5-year bonds on January 1, 2021. Interest is payable semi-annually. Calculate the price of the bond: (a) 4%, (b) 5%,

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Pharoah issued $420,000 of 5%, 5-year bonds on January 1, 2021. Interest is payable semi-annually. Calculate the price of the bond: (a) 4%, (b) 5%, and (c)6%. (For calculation purposes, use 5 decimal places as displayed in the factor provided. Round final answer to decimal places, eg. 5,275.) Click here to view the factor table. Present Value of 1 Click here to view the factor table. Present Value of an Annuity of 1 $ (a) Market interest rate 4% (b) Market interest rate 5% (cMarket interest rate 6% $ $ Prepare the journal entry to record the issuance of the bond assuming the market rate of interest is: (a) 4%, (b) 5%, and (c) 6%. account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" account titles and enter for the amounts.) Debit No. Account Titles and Explanation (a) Credit (To record issuance of bonds.) (b) (To record issuance of bonds.) (c) (To record issuance of bonds.)

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