Question 6 - 20 Marks The Marshall Corporation has issued $100,000 in 10% bonds on January 1, 2017 to EllCo Incorporated. The bonds are due on January 1, 2022. Interest is payable each July 1 and January 1 . Investors presently demand 8% as an effective interest rate. a) Determine if the bonds were sold at a premium or discount. b) Calculate the price that the bonds should have been sold at, along with the (1 mark) (3 marks) (2 marks) bond premium or discount 2018 Assume that you are the accountant for the Marshall Corporation: c) Prepare the amortization table from the date of issuance through to January1 (1 marks) (3 marks) d) Prepare the journal entry for the issuance of the bonds e) Record the first interest payment on July 1, 2017 Ellco decides to sell its bond investment in Marshall Corporation on November 1, 2017, at 99%. Assume that you are the accountant for Elco Incorporated. All entries and payments to July 1, 2017 have been made Prepare the journal entry to record the sale of the bond (be sure to include any interest accrued f) (10 marks)