Name Notes Payable On January 1, 2014, Fox Corporation signed an $80,000, four-year, 4% note. The loan required Fox to make payments annually on December 31 of $20,000 princlpal plus interest. Record a new Note Payable Date Account Debit Credit Record the first Payment of Principal and Interest on the Note Payable Account Debit Credit Date Bonds Payable Determine whether the following bonds payable will be issued at face value, at a premium, or at a discount. A 4% bonds payable is issued when the market interest rate # 296. A 4% bonds payable is issued when the market interest rate-4%. A 4% bonds payable is issued when the market interest rate-6%. Market Interest RateIssue Price of Bonds Payable Bond's Stated Interest Rate 2%. 496. 4% 4% 4% Page 1