When Patey Pontoons lssued 10% bonds on January 1,2024 , with a face amount of $640,000, the market yield for bonds of similar isk and matunity was 119. The bonds mature December 31, 2027 (4 years). interest is paid semiannualy on June 30 and December 31. Required: 2. Determine the price of the bonds at January 1,2024 2. Prepare the Journal enty to record theie issuance by Patey on January 1.2024 3. Prepare an amotization schedule that determines interest ot the effective rate cach period. 4. Prepore the joumai entry to record interest on June 30,2024. 5. What Is the amount related to the bonds that Patey wi report in its balance sheet at December 31, 2024? 6. What is the amountrelated to the bonds that Patey wil report in its income stotement for the ycor ended becember 31, 2024? (Ginore income taxosi 7. Prepare the agpropriote Joumal ootries at maturity on December 31. 2027 Compiete this question by entering your answers in the tabs below. Prepara the journat nnty to record their issuance by Patey an lanubry 1, 2024. chicugations arid finalanswork to the nearest whole dolat 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 pl. Prepare the journal enty to fecoro ther issuance by Patey on Jariuary 1.2024 Prepare an amortization schedule that determines interest at the effective rate each period. Note: Round intermediate calculations and Anal answers to the nearest whole dollar: prepsre the journal entry to record interest on june 30, 2024. Notes: if hio lentry fis required for a transacbion Jevent, select Wo journal entry required in the first acco calculations and nimal answers to the nearest whole dollar? Journal entry worksheet Record the interest expense on June 30, 2024. Wotse inter debis berore credies. Complete this question by entering your answers in the tabs below. What is the amount(s) related to the bonds that patey will report in its balance sheet at December 31 , 2024 and income statement for the year ended December 31, 2024? (Ignore income taxes.) Note hound inkemsedate calculauons and fnal answent to the neape whole dollar Prepare the appropriate journal entries at maturity on December 31,2027. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account fiel calculations and final answers to the nearest whole dollar. Journal entry worksheet Record the interest expense on December 31, 2027. Note: Enter debits before credits
