Q1. When Patex Pontoons issued 10% bonds on January 1, 2016, with a face amount of $800,000, the market yield for bonds of similar risk and maturity was 11%. The bonds mature December 31, 2019 (4 years). Interest is paid semiannually on June 30 and December 31. Determine the price of the bonds at January 1, 2016. Prepare the journal entry to record their issuance by Patey on January 1, 2016. Prepare an amortization schedule that determines interest at the effective rate each period