When Patey Pontoons Issued $8\%$ bonds on January $1,2024,$ with a face amount of $$780,000,$ the market yleld for bonds

of similar rlsk and maturity was $11\%.$ The bonds mature December $31,2027(4$ years$).$ Interest is pald semlannually on

June $30$ and December $31.$

Required:

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 approprlate journal entrles at maturlty 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.

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.