Universal Foods issued 12% bonds, dated January 1, with a face amount of $175 million on January 1, 2021. The bonds mature on December 31, 2035 (15 years). The market rate of interest for similar issues was 14%. Interest is paid semiannually on June 30 and December 31. Universal uses the straight-line method. (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, 2021. 2. to 4. Prepare the journal entries to record their issuance by Universal Foods on January 1, 2021, interest on June 30, 2021 and interest on December 31, 2028. Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 to 4 Prepare the journal entries to record their issuance by Universal Foods on January 1, 2021, Interest on June 30, 2021 and Interest on December 31, 2028. (Round final answers to the nearest whole dollars. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Debit Credit 1 Date General Journal January 01, 2021 Cash Discount on bonds payable Bonds payable 153,289,500 21,710,500 175,000,000 OOO OOO 2 June 30, 2021 10,572,368 Interest expense Discount on bonds payable Cash 723,683 10,500,000 3 10,572,368 December 31, 20. Interest expense Discount on bonds payable Cash SOO 723,683 10,500,000