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Requirement 1. If the market interest rate is 9% when Wrigley Corp, Issues its bonds, will the bonds be priced at par, at a premium, or at a discount? Explain. The 10% bonds issued when the market interest rate is 9% will be priced at They are in this market, so investors will pay to acquire them. Requirement 2. If the market interest rate is 11% when Wrigley Corp. issues its bonds, will the bonds be priced at par, at a premium, or at a discount? Explain. The 10% bonds issued when the market interest rate is 11% will be priced at They are in this market, so investors will pay to acquire them. Requirement 3. Assume that the issue price of the bonds is 96 . Journalize the following bonds payable transactions. (Record debits first, then credits. Exclude explanations from joumal entries.) a. Record the issuance of the bonds on February 28, 2021. b. Payment of interest and amortization of the bond discount on August 31,2021. Requirements 1. If the market interest rate is 9% when Wrigley Corp. issues its bonds, will the bonds be priced at par, at a premium, or at a discount? Explain. 2. If the market interest rate is 11% when Wrigley Corp. issues its bonds, will the bonds be priced at par, at a premium, or at a discount? Explain. 3. Assume that the issue price of the bonds is 96 . Journalize the following bonds payable transactions. a. Issuance of the bonds on February 28,2021 b. Payment of interest and amortization of the bond discount on August 31, 2021 c. Accrual of interest and amortization of the bond discount on December 31, 2021 (fiscal yearend) d. Payment of interest and amortization of the bond discount on February 28, 2022 4. Report interest payable and bonds payable as they would appear on Wrigley Corp.'s balance sheet at December 31, 2021