The Bradford Company issued 10 bonds, dated January 1, with a face amount of $80 million on January 1, 2013 The bonds mature on December 31, 2022 (10 years) For bonds of similar risk and maturity, the market yield is 12 Interest is paid semiannually on June 30 and December 31 (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided ) Required 1 Determine the price of the bonds at January 1, 2013 (Enter your answers whole dollars ) Table values are based on n i Cash Flow Amount Present Value Interest Principal Price of bonds 2 Prepare the journal entry to record their issuance by The Bradford Company on January 1, 2013 (Enter your answers in whole dollars If no journal entry is required for a transaction, select No journal entry required in the first account field ) 3 Prepare the journal entry to record interest on June 30, 2013 (at the effective rate) (Enter your answers in whole dollars If no journal entry is required for a transaction, select No journal entry required in the first account field )

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The Bradford Company issued 10% bonds, dated January 1, with a face amount of $80 million on January 1, 2013. The bonds mature on December

The Bradford Company issued 10% bonds, dated January 1, with a face amount of $80 million on January 1, 2013. The bonds mature on December 31, 2022 (10 years). For bonds of similar risk and maturity, the market yield is 12%. Interest is paid semiannually on June 30 and December 31. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

Required:

Determine the price of the bonds at January 1, 2013. (Enter your answers whole dollars.)

Table values are based on:
n =
i =
Cash Flow	Amount	Present Value
Interest
Principal
Price of bonds

Prepare the journal entry to record their issuance by The Bradford Company on January 1, 2013. (Enter your answers in whole dollars. If no journal entry is required for a transaction, select "No journal entry required" in the first account field.)

3.	Prepare the journal entry to record interest on June 30, 2013 (at the effective rate). (Enter your answers in whole dollars. If no journal entry is required for a transaction, select "No journal entry required" in the first account field.)