Question 12 (9 points) On July 1st, 2019 Tim Inc purchased $1,000,000 bonds of Ray Inc 6% bonds. The bonds pay semi-annual interest on January 1st, and June 30th. The market rate of interest on the date of purchase was 4%. The bonds mature on January 1st, 2026 (the date that the final interest payment is paid). Tim Inc accounts for the bonds using the Amortized Cost Method. Part a) Calculate the price paid by Tim Part b) Ignore your answer to part (a) and assume that the present value of the bonds July 1st was $1,113,481, prepare the journal entry(ies) required on July 1st, 2019 Part c) Ignore your answer to part (a) and assume that the present value of the bonds July 1st was $1,113,481, prepare the journal entry(ies) required on December 31st, 2019 Part d) Ignore your answer to part (1) and assume that the present value of the bonds July 1st was $1,113,481, prepare the journal entry(ies) required on January 1st, 2020