Universal Foods issued 10% bonds, dated January 1, with a face amount of $110 million on January 1,2024. - The bonds mature on December 31, 2043 (20 years). - The market rate of interest for similar issues was 12% - Interest is paid semiannually on June 30 and December 31. - Universal uses the straight-line method. Required: 1. Determine the price of the bonds at January 1,2024. 2 to 4 . Prepare the journal entries to record their issuance by Universal Foods on January 1,2024 , interest on June 30,2024 and interest on December 31, 2031. Note: Use tables, Excel, or a financial calculator. (FV of $1,PV of $1, FVA of $1, PVA of $1. FVAD of $1 and PVAD of $1 ) Complete this question by entering your answers in the tabs below. Determine the price of the bonds at January 1, 2024. Note: Round your final answer to the nearest whole dollars