4.

Prepare the journal entry to record interest on June 30, 2016. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Date

General Journal

Debit

Credit

When Patey Pontoons issued 8% bonds on January 1, 2016, with a face amount of $780,000, the market yield for bonds of similar risk and maturity was 11%. The bonds mature December 31, 2019 (4 years) Interest is paid semiannually on June 30 and December 31 (FV of $1, PV of $1, EVA 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, 2016 able values are based on: ME Cash Flow Amount Present Value nterest Principal Price of bonds 2. Prepare the journal entry to record their issuance by Patey on January 1, 2016. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) view transaction list journal entry worksheet Date General Journal Debit Credit