Markway Inc. is contemplating selling bonds. The issue is to be composed of 750 bonds, each with a face amount of $1,000.

Required:
1. Calculate how much Markway is able to borrow if each bond is sold at a premium of $30.
2. Calculate how much Markway is able to borrow if each bond is sold at a discount of $10.
3. Calculate how much Markway is able to borrow if each bond is sold at 92 percent of par.
4. Calculate how much Markway is able to borrow if each bond is sold at 103 percent of par.
5. Assume that the bonds are sold for $975 each. Prepare the entry to recognize the sale of the 750 bonds.
6. Assume that the bonds are sold for $1,015 each. Prepare the entry to recognize the sale of the 750 bonds.