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Queen Energy Inc. Issued bonds on January 1, 2023, that pay interest semiannually on June 30 and December 31 . The par value of the
Queen Energy Inc. Issued bonds on January 1, 2023, that pay interest semiannually on June 30 and December 31 . The par value of the bonds is $300,000, the annual contract rate is 12%, and the bonds mature in 10 years. (Use TABLE 14AI and TABLE 14A , 2) (Use appropriate factor(s) from the tables provided.) Required: a. For each of these three situations, determine the issue price of the bonds. (Do not round intermediate caiculations, Round the final answers to the nearest whole dollar.) b. For each of these three situations, prepare the joumal entry that would record the issuance, assuming the market interest rate at the date of Issuance was (1) 10\%, (2) 12\%, (3) 14\%. (Use PV tables in determining the issue price of the bonds. Do not round intermediate calculations. Round the final answers to the nearest whole dollar.) Journal entry worksheet Record the sale of bonds on original issue date at 1096 market interest rate. Nute: Finter debits bedore civedits
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