Computing bond price and recording issuance P1 Flagstaff Systems issues bonds dated January 1, 2016, that pay June 30 and December 31. The bonds have a $90,000 par value and an annual contract rate interest semiannually on of 12%, and they mature in five years. Required For each of the following three separate situations,(a) determine the bonds' issue price on January 1 2013 and (b) prepare the journal entry to record their issuance 1. 2. The market rate at the date of issuance is 10%. The market rate at the date of issuance is 14% BRIEF EXPLANATION REQUIRED FOR THE TWO JOURNAL ENTRIES