Need help for this homework Problem 10-1A Computing bond price and recording issuance LO P1

Problem 10-1A Computing bond price and recording issuance LO P1 Hartford Research issues bonds dated January 1, 2015, that pay interest semiannually on June 30 and December 31. The bonds have a $32,000 par value and an annual contract rate of 12%, and they mature in 10 years. (Table B.1, Table B.2, Table B.3, and Table B.4) (Use appropriate factor(s) from the tables provided. Round all table values to 4 decimal places, and use the rounded table values in calculations.) Required: Consider each of the following three separate situations. 1. The market rate at the date of issuance is 10%. (a) Complete the below table to determine the bonds' issue price on January 1, 2015. Table values are based on: n = 20 5.0% Cash Flow Table Value Amount Present Value $ 32,000 Par (maturity) value Interest (annuity) Price of bonds (b) Prepare the journal entry to record their issuance. View transaction list Journal entry worksheet Record the issue of bonds with a par value of $32,000 cash on January 1, 2015. Assume that the market rate of interest at the date of issue is 14%. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01, 2015 Record entry Clear entry View general journal