Saved Help Sa On January 1, 2021, Bishop Company issued 8% bonds dated January 1, 2021, with a face amount of $20.3 million. The bonds mature in 2030 (10 years). For bonds of similar risk and maturity, the market yield is 10%. Interest is paid semiannually on June 30 and December 31. (FV of $1. PV of $1. FVA of $1. PVA of S1. FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided. Round your intermediate calculations to the nearest whole dollar.) Required: 1. Determine the price of the bonds at January 1, 2021. 2. Prepare the journal entry to record the bond issuance by Bishop on January 1, 2021. 3. Prepare the journal entry to record interest on June 30, 2021, using the effective interest method. 4. Prepare the journal entry to record interest on December 31, 2021, using the effective interest method. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Determine the price of the bonds at January 1, 2021. Bond value Required 2 > Seaside issues a bond that has a stated interest rate of 12%, face amount of $40,000, and is due in 8 years. Interest payments are made semi-annually. The market rate for this type of bond is 14%. What is the issue price of the bond? (FV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of $1 and PVAD of S1 (Use appropriate factor(s) from the tables provided.) Multiple Choice $36,221 $53,549 $40,000 $60,269 Universal Travel Inc. borrowed $492,000 on November 1, 2021, and signed a 12-month note bearing interest at 5%. Interest is payable in full at maturity on October 31, 2022. In connection with this note, Universal Travel Inc. should report interest payable at December 31, 2021, in the amount of: (Round your final answers to the nearest whole dollar.) Multiple Choice $4,100 $20,500 $24,600 $16,400