When Patey Pontoons issued $4\%$ bonds on January $1,2024,$ with a face amount of $$740,000,$ the market yleld for bonds of similar risk

and maturity was $5\%.$ The bonds mature December $31,2027(4$ years$).$ Interest is pald semlannually on June $30$ and December $31.$

Requlred:

Determine the price of the bonds at January $1,2024.$

Prepare the journal entry to record thelr Issuance by Patey on January $1,2024.$

Prepare an amortization schedule that determines Interest at the effectlve rate each period.

Prepare the journal entry to record Interest on June $30,2024.$

What is the amount related to the bonds that Patey will report in Its balance sheet at December $31,2024?$

What is the amount related to the bonds that Patey will report in Its Income statement for the year ended December $31,2024?$

$($Ignore income taxes.$)$

Prepare the appropriate Journal entries at maturity on December $31,2027.$

Note: Use tables, Excel, or a financlal 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.

Req $1$

Req $4$

Req $5$ and $6$

Req $7$

Determine the price of the bonds at January $1,2024.$

Note: Round final answers to the nearest whole dollar. Round your percentage answer to one decimal place. Prepare the journal entry to record thelr Issuance by Hatey on January

Prepare an amortization schedule that determines interest at the effectlve rate each period.

Prepare the journal entry to record interest on June $30,2024.$

What is the amount related to the bonds that Patey will report in Its balance sheet at December $31,2024?$

What is the amount related to the bonds that Patey will report in its income statement for the year ended December $31,2024?$

$($lgnore income taxes.$)$

Prepare the appropriate journal entries at maturity on December $31,2027.$

Note: Use tables, Excel, or a financlal 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.

Prepare an amortization schedule that determines interest at the effective rate each period.

Note: Round intermediate calculations and final answers to the nearest whole dollar.When Patey Pontoons issued $4\%$ bonds on January $1,2024,$ with a face amount of $$740,000,$ the market yield for bonds of similar risk and maturity was $5\%.$ The bonds mature December $31,2027(4$ years$).$ Interest is paid semiannually on June $30$ and December $31.$

Required:

Determine the price of the bonds at January $1,2024.$

Prepare the journal entry to record their issuance by Patey on January $1,2024.$

Prepare an amortization schedule that determines interest at the effective rate each period.

Prepare the journal entry to record interest on June $30,2024.$

What is the amount related to the bonds that Patey will report in its balance sheet at December $31,2024?$

What is the amount related to the bonds that Patey will report in its income statement for the year ended December $31,2024?($Ignore income taxes.$)$

Prepare the appropriate journal entries at maturity on December $31,2027.$