Transcribed image text: 24. On January 2, Lincoln Motors, Inc. issued 1,000; $1,000 par value bonds to finance a new showroom. The bonds are 5-year, 6% bonds that pay interest on June 30 and December 31 each year. When issued, investors required 7% interest and the bonds are due December 31, Year 5. Required: 1. Compute the selling price of the bonds. 2. Prepare the entry to record the sale of the bonds. 3. Prepare the journal entries for the first and second interest payments. 4. What is the carrying value of the bonds on January 1, year 2