PROBLEMS Problem 14-1A Calculating bond prices and recording issuance with journal entries LO3,5,6 CHECK FIGURES: 1a. $350,345; 2a. $270,000; 3a. $212,787 Queen Energy Ind. issued bonds on January 1, 2020, that pay interest semiannually on June 30 and December 31. The par value of the bonds is $270,000, the annual contract rate is 10%, and the bonds mature in 10 years Required for each of these three situations, (a) determine the issue price of the bonds and (b) show the jour- nal entry that would record the issuance, assuming the market interest rate at the date of issuance was 1. 6% 2. 10% 3. 14% Problem 114