Question 4 2 pts On May 1, the Shoe Zoo Company borrowed $30,000 from the First Bank of Columbus on a 1- year, 6% note. If the company keeps its records on a calendar year, an entry is needed on December 31 to increase Interest Payable, $1.200. Interest Payable $900. Interest Expense, $1,800. Interest Expense, $600. Question 10 2 pts Which of the following statements is correct? The market rate of interest refers to the interest rate that the bond-issuing company must pay to be competitive with other issuers If the face rate of interest on a bond is not equal to the market rate of interest, then the company desiring to issue the bonds must reprint its bond certificates The market rate of interest has no bearing on the selling price of the bonds There are almost always small differences between the face rate and the market rate when bonds are issued. Question 11 2 pts The bond issue price is determined by calculating the present value of the stream of interest payments and the future value of the maturity amount future value of the stream of interest payments and the future value of the maturity amount tuture value of the stream of Interest payments and the present value of the maturity amount present value of the stream of interest payments and the present value of the maturity amount Question 8 2 pts When determining the amount of interest to be paid on a bond, which of the following information is not necessary? The length of the interest period, annually or semiannually The face amount of the bonds The selling price of the bonds The face rate of interest on the bonds