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16) Hartford Research issues bonds dated January 1 that pay interest semiannually on June 30 and December 31 The bonds have a $40,000 par value and an annual contract rate of 10%, and they mature in 10 years. (Table B.1. Table B.2. Table 8.3and Table B.4) (Use appropriate factor(s) from the tables provided. Round all table values to 4 decimal places, and use the rounded table values in calculations.) Required: Consider each separate situation 1. The market rate at the date of issuance is 8%. (a) Complete the below table to determine the bonds' issue price on January 1. (b) Prepare the journal entry to record their issuance. 2. The market rate at the date of issuance is 10% (a) Complete the below table to determine the bonds'issue price on January 1. (b) Prepare the journal entry to record their issuance. 3. The market rate at the date of issuance is 12%. (a) Complete the below table to determine the bonds'issue price on January 1. (b) Prepare the journal entry to record their issuance. Required 1A Required 1B Required 2A Required 2B Required 3A Required 38 Complete the below table to determine the bonds' issue price on January 1 if the market rate at the date of issuance is 8%. Table values are based on: no Amount Cash Flow Table Value Present Value Par (maturity) value Interest (annuity) Price of bonds Record the issue of bonds with a par value of $40,000 on January 1. Assume that the market rate of interest at the date of issue is 8%. Note: Enter debits before credits. General Journal Debit Credit Date January 01 Complete the below table to determine the bonds" issue price on January 1 if the market rate at the date of issuance is 10% Table values are based on: Value Present Cash Flow Table Value Amount Par (maturity) value Interest (annuity) Price of bonds Record the issue of bonds with a par value of $40,000 on January 1. Assume that the market rate of interest at the date of issue is 10%. Note: Enter debits before credits. Date January 01 General Journal Debit Credit Complete the below table to determine the bonds' issue price on January 1 if the market rate at the date of issuance is 12% Table values are based on: Table Value Amount Present Value Cash Flow Par (maturity) value Interest (annuity) Price of bonds Record the issue of bonds with a par value of $40,000 on January 1. Assume that the market rate of interest at the date of issue is 12%. Note: Enter debits before credits. General Journal Debit Credit Date January 01