Universal Foods issued 8% bonds, dated January 1, with a face amount of $130 million on January 1, 2018. The bonds mature on December 31, 2032 (15 years). The market rate of interest for similar issues was 10%. 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, 2018. 2. to 4. Prepare the journal entry to record their issuance by Universal Foods on January 1, 2018, interest on June 30, 2018 and interest on December 31, 2025.

Prepare the journal entry to record their issuance by Universal Foods on January 1,2018 , interest on June 30 , 2018 interest on December 31, 2025. (Enter your answers in whole dollars. If no entry is required for a transaction/event "No journal entry required" in the first account field.)