The Bradford Company issued $10\%$ bonds, dated January $1,$ with a face amount of $$80$ million on January $1,2024.$

The bonds mature on December $31,2033(10$ years$).$

For bonds of similar risk and maturity, the market yield is $12\%.$

Interest is paid semiannually on June $30$ and December $31.$

Requlred:

Determine the price of the bonds at January $1,2024.$

to $4.$ Prepare the journal entries to record their issuance by The Bradford Company on January $1,2024,$ interest on June $30,2024$

$($at the effective rate$)$ and interest on December $31,2024($at the effective rate$).$

Note: Use tables, Excel, or a financlal calculetor. $($FV of $$1.$ PV of $$1.$ FVA of $$1.$ PVA of $$1.$ FVAD of $$1$ and PVAD of $$1)$

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Req $2$ to $4$

Prepare the journal entries to record their issuance by The Bradford Company on January $1,2024,$ interest on June $30,$

$2024($at the effective rate$)$ and interest on December $31,2024($at the effective rate$).$

Note: Enter your answers in whole dollars. If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in

the first account field.

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