THOBLEM SET A Round dollar amounts to the nearest whole Assume no reversing entries Stowers Research issues bonds dated January 1, 2011, that pay interest semiannually on June 30 and December 31 . The bonds have a $20,000 par value and an annual contract rate of 10%, and they mature in 10 years. Problem 11-1A Computing bond price an recording issuance P1 P2 P3 Required For each of the following three separate situations, (a) determine the bonds' issue price on January I 2011, and (b) prepare the journal entry to record their issuance Check (1) Premium, $2,718 1. The market rate at the date of issuance is 8%. 2. The market rate at the date of issuance is 10%. 3) Discount, $2,294 3. The market rate at the date of issuance is 12%