Requirements 1. Fill in the blanks to complete these statements: a. Natique Nail Salons' bonds are priced at (express the price as a percentage) b. When Nailtique Nail Salons issued its bonds, the market interest rate was higher than lower than or equal to) 9 percent. C. The amount of bond discount or premium is 2. Record the following transactions: a. Issuance of the bonds payable on May 1, 2018 b. Payment of interest and amortization of discount or premium, any on October 31, 2018 . Accrual of interest (and amortization of discount or premium, if any) on December 31, 2018; explanations are not required 3. At what amount wil Nailtique Nail Salons report the bonds on its balance sheet at December 31, 2018? Print Done Requirement 1. Fill in the blanks to complete each statement. a. Nailtique Nail Salons' bonds are priced at (express the price as a percentage) 97%. b. When Nailtique Nail Salons issued its bonds, the market interest rate was higher than 9 percent C. The amount of bond discount or premium is $ 21000 Requirement 2. Record each transaction. (Do not round any intermediary computations, but then round all amounts you enter into the journal entry a. Issuance of the bonds payable on May 1, 2018 Date | Credit May 1 Journal Entry Accounts Cash Discount on bonds payable Bonds payable Debit 679000||| 21000 700000 b. Payment of interest (and amortization of discount or premium, if any) on October 31, 2018 Journal Entry Date Accounts Debit Credit Oct 31 Interest expense Discount on bonds payable Cash c. Accrual of interest (and amortization of discount or premium, if any) on December 31, 2018 Date Debit Credit Dec 31 Journal Entry Accounts Interest expense Discount on bonds payable Interest payable Requirement 3. At what amount wil Nailtique Nail Salons report the bonds on its balance sheet at December 31, 2018? c. On its balance sheet at December 31, 2018, the company will report the bonds at the carrying amount